Entertainment

The Stock is in Bearish Phase. The sellers have entered the market and pushing the price down. The Bearish Phase occurs when sellers have entered the market.
The stock has recovered 38.5% from its recent low price of 2.88 which occurred on 4-Dec-2007. The current price is above the 20 day moving average of 3.66. The stock could possibly find resistance at the 50 day moving average of 5.73.
The closest support can be found at 3.12. The closest resistance can be found at 4.79. See Support/Resistance below for details.A close below the support level of 3.12 could trigger a sell signal. Confirmation would occur when the high of the day would be below 3.12.
Consider sell/shorting when the price retraces around 4.79 if you are aggressive. Alternatively, a conservative sell would be around 6.88.
Consider risking somewhere between 0.657(16.47%) and 1.095(27.44%) points on your position. Risk management is an important part of trading. Our risk management strategy is based on the average daily range of the stock.

County Executive John Ladenburg’s last-ditch effort to save funding for the Prometa drug-treatment program did not sway the County Council.

Instead of setting aside $400,000 for Prometa in the 2008 budget, the council Tuesday designated the money for “decreasing the Pierce County jail population or evidence-based programs that are directed towards breaking the cycle of drug addiction.”

The council also set aside the $175,000 in unspent 2007 Prometa funding for the same purpose, bringing the total to $575,000.

The council took no action on  to spend the money on Prometa.
Council Chairman Terry Lee, R-Gig Harbor, said Prometa could qualify for the funds “if it becomes a program based on evidence-based results.”

Councilman Shawn Bunney, R-Lake Tapps, said the council will ask the Performance Audit Committee to devise performance measures that will be applied to programs like Prometa, with the ultimate goal of reducing the jail population.

“We need to do a much better job of measuring and holding people accountable for outcomes,” Bunney said.

The council last month  2007 funding for Prometa – used to treat addicts in county drug court – after a performance auditors report found little evidence the program is effective.
On Tuesday Ladenburg made a last effort to revive Prometa funding by offering budget language addressing several council concerns.

The executive’s plan would have prohibited managers and board members of the nonprofit Pierce County Alliance – which administers Prometa for the county – from owning stock in Hythiam Inc., the company that licenses the treatment. The plan also would have removed language from the alliance’s contract with Hythiam that required it to market Prometa.