I have to change my view, I think we will break upward now. There is a very straight trendline and that is just asking for it.
Just to play devils advocate to all the bears in here...diluted instruments have been showing a lot of false patterns in shorter time frames. The options activity though has been unusually bullish. We've chopped around all week (which is a continuation of the last few months), but the options market suggests it's looking for a move upwards. We have option expiry today constraining prices (and suggests more chop and narrow range), but it will take only a gentle push up on this to trigger a lot of buying next week.
Not all of us are short. I have a pretty good size long going on, with plans to buy more.. just not there yet.
Oh....hey, I did save this image from yesterday afternoon regarding the options flow: Note only 4 of those put / call ratios are above 1--none touch 2. And look at the volume relative to average
Yeah, no conviction either way. Anyhow I meant to ask, whatever happened to Spooz Top 1? Was that handle already taken?
I was the original Spooz Top ... somewhere along the way I lost the password & old email... easier to come back as 2.0!