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Message: Some technical analysis as usual...
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May 25, 2010 10:56AM
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May 25, 2010 11:02AM
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May 25, 2010 11:02AM
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May 25, 2010 12:49PM
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May 27, 2010 05:38PM

Jun 02, 2010 11:47AM

I quote my earlier statement about a further drop.

Directional movement indicators tell me that the correction is not over and that we could be approaching a more serious correction. $0.45 seems to me to be the first support level and it remains to be seen whether this holds. those who buy around that level (imho) may be able to make some money if they take profit timely.

For those who worry about what's to come: once again - you're too close to your screen. Go to some good charting website and look at CMM's monthly chart over a five or ten year period. Watch the EMA-9 line closely, because this is where we may expect some support. This corresponds with earlier highs of end 2009. Once again, around $0.45 level.

Worst case scenario shows a pullback to $0.35 levels which would still leave the long term (monthly) trend intact. No worries because eventually, the market will realise again what a great company CMM is. Reserves don't lie.

I think this is a good level to slowly buy some extra shares again. Don't forget that I mainly look at long-term charts so a further drop is possible but I would not expect a monthly close below $0.45. We are now at around dec '09 highs and that should be a good level of support. Do your own due diligence, I am just stating my perspective. Recommended to sell at $0.80, now I consider this an attractive level to buy back at $0.45. If you want to be sure, you may want to wait for a confirmation of a trend change...

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