If anyone is bargain hunting, the SP bounced off the 200 day MA ... again.

but

A close at or below 64 cents would officially close the gap from Nov 2, 2011. IMO this is hightly possible.

Beyond that there's huge demand in the 60-64 cent range, so a break below that would be a tough nut to crack and some outside forces like a slow down in Europe and/or China (oh wait it's already happened) would be needed to help it below 60 cents.

If it does break below that, I think that 50 cents-ish would be a floor. Who know's what the summer doldrums will bring.

time to free up some dry powder?