As I mentioned before, the chart is begin to show signs of strength.The signs of strength are:1. The trend line from 8.00 (in Nov 04') to 9.75 (in Apr 05), then 10.00 (last week) held;2. FXEN did a double bottom at 9.75 and 10.00;3. The 200 dma recently held at 10.50;4. We are in an upward slanting wedge;5. Today we had higher highs than yesterday on no news;6. Could be the beginning of the Lugi spud rally, or the expectation of positive Sroda flow test results;7. Regardless, the low volume is not helping the shorts. It takes them more days to cover.8. Finally, these positive chart formations will attract additional buyers on Monday.I think the worst is behind us, the chart is beginning to reflect that, and us longs have a lot to look forward to.
And it was nice to see volume drop off over the last few days during the decline off of the gap up. But the retracement was more than it should have been for an extremely bullish case.
Also closed the gap up on the Sroda news.