Patience required, page-22

MetalMad - you are right, it's ugly - I stuck the charts up yesterday and there are no redeeming features since the faint signs of recovery sputtered out a couple of weeks back. The current soft market has amplified the problem with no buyers and has added pressure to spook more holders. Every seller other than maybe current or previous management is losing money on every sale now. Some who probably bought in at much higher price points are probably getting very seriously burnt.

It is a bit surprising that the bargain hunters are not turning up in numbers despite the depressed market, it is looking awfully cheap right now. Volumes are around the recent average of about 750K so there is no sign yet of an exhaustion day, i.e. a price collapse on high volume. Potentially that could put a line in the sand and maybe spark the turnaround but technically there isn't much else to look forward to other than possibly a bounce from 20 cents.