GLTY, Aco...I'm watching the $4.35 area for potential H&S with right shoulder taking it back to $4.7 before falling again. I'm seeing a similar pattern in VALE with possible $19.80 bottom there before putting in right shoulder. Earnings could pound this market back down to gap fill. No man's land in here really.
$4.35 would be a great entry. It corresponds to the bottom of a channel and the 50sma also.
I have some more cash to throw at this if things move down that far. I decided to buy here for three reasons - 1) Major US bond sales end at 11:30 today. 2) Its sitting on a smaller trend line that has held pretty strong for the past month or so. 3) Its trading just under the 20 and 10smas which have held pretty well for a while.
Still keeping a close eye on the electricity issues mentioned earlier.