YRCW Probably Put in a Monthly Cycle Low on Friday 8-6-10, see the daily candlestick chart at http://stockcharts.com/charts/gallery.html?s=yrcw, and, see the 5 day intra day candlestick chart at http://finance.yahoo.com/q/ta?s=yrcw&t=5d&l=on&z=l&q=c&p=v&a=w14,fs&c=. Note the bullish white candle on 8-6-10 with a small inverse spike.
The fact that YRCW didn't fill the 0.255ish downside gap, bottoming/likely Monthly Cycle Low on Friday 8-6-10 at 0.265, is a bullish sign, as is 8-6-10's bullish candle, and, YRCW completed an Elliott Wave down up down pattern and an Elliott Wave down up down up down pattern on both the daily and the intra day charts, see the links above.
Also, looking at YRCW's 5 day intra day candlestick chart at http://finance.yahoo.com/q/ta?s=yrcw&t=5d&l=on&z=l&q=c&p=v&a=w14,fs&c=, strong buying occurred near important very short term cycle lows this week.
If you want to play it safe (assuming you want to trade this rocket at all) you can wait for YRCW to take out the 0.439 Monthly Cycle High that occurred on 8-3-10, in order to confirm that YRCW did in fact put in a Monthly Cycle Low on Friday 8-6-10 at 0.265, see the daily candlestick chart at http://stockcharts.com/charts/gallery.html?s=yrcw. Happy hunting. Ciao baby.
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