I agree with Lou's remarks and I don't think anyone who has followed SMF on this board has ever stated that the trend has been reversed.  He has identified that SMF is in the process of testing the $3 level and this presents a potential entry point for longs who believe that the $3 level will hold and the stock will turn around.  The less risky prospect is to wait until SMF clears the trendline above $5 mark, followed by a test and a new high, at which point you might be entering the stock around $5.50 or $6.

Lou hasn't added anything new, it is all about each individuals accepted level of risk.