I upped the buying bid from $0.940 to $0.945 yesterday night. I believed that the low volume seen on AIMSAMPI for the past few days was an indication that the price could have striked a hard floor. Yes, a hard floor is a very strong support and if it was a bottom in disguise, it could rebound strongly in the next trade. That was my early prediction.
But things didn't go well this morning. The price sank to $0.935, below the lowest low of $0.940 (my intended buy order) for 2011. Say to the main point, I was tricked by the volume data and upped the buying bid where I was supposed to get the buy order done at $0.940. Anyway, a good lesson learnt - if there are still rooms for the price to fall further, it will fall.
The next strongest support line is at $0.920 - the lowest low for the next-half of 2010.
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