The volumes remain very low, but the stock seems to have found support around $7.0. The first level to cross would be the 200 DMA of $8.14. That will require some force and volume. The volatility over the last few months has been tremendous and the stock has moved wildly. The 52 week high is $18.80 and the low is $5.51. From this low it tried to make a comeback, but $14 was a strong resistance, and the stock could not overcome that. $7 was expected to be a support, and that is holding for the moment. However, till the volumes increase and there is some strong momentum, it will be difficult to consider the correction to be over. It will be good if the stock can spend some time around the current levels to consolidate before making a move to cross the hurdles. Recently, private placement of shares and warrants was done around $6.50 levels and the stock had strongly taken off from that point to touch $13.91. The fact that SPEX is a pure patent play now makes it slightly leaner with lesser overheads. It has better focus on drug development / IPR acquisition. This is because, recently, several companies are making news for attempting to monetize their patents. e.g. Document Security System (NYSE:DSS) is likely to benefit from a patent infringement lawsuit filed by its subsidiary against Facebook (FB), LinkedIn (LNKD), Novell (NOVL), Broadvision (BVSN) and Jive Software. The lawsuit is worth hundreds of millions and the Markman hearing is scheduled soon. The SPEX management understands the potential of patent monetization business and the recent sale of the consulting division was done with this background in mind. It seems that something may be cooking. But for traders, volumes will be the key metric, and $8.14 will have to be crossed decisively.