katana
what i was saying is that you can draw a trendline from the lows in june 07,connecting all the troughs on the way down.that trendline coincides with where we are now.so we are on the support of the lower downtrend line.
as for your $6.50 target.yes it could be acheived over time,and all it might take is a capitulation type move in the market to happen.But for now i will stick to my target as mentioned before.If u go back and calculate the last repeating ranges u will see why i like $10.Mind you we also have a EW Wave 3 buy at present,after it is completed then u could look for your EW Wave 4 sell to $6.50.
however that is a harsh call after speaking with BSL managers today.My price projection target using EW gives me a $7.21 target on or around 15th november.
As we all say, time will tell.
gunn
katanawhat i was saying is that you can draw a trendline from...
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