Saturday, January 25, 2014

TRX might have one more small wave down...

When TRX was at $2.16 I was modeling a near term top with a pull back to ~1.90. It ended up dipping to $1.95.  This did not quite hit my buy target so I have yet to buy.  However, it may have bottomed so I will buy either the break above $2.10 or the dip down to $1.86. 

I model this current action as a 2nd wave.  I expect the 3rd wave to be good for perhaps a 60-75%  rise in just a matter of weeks.  Maybe it sounds crazy.  Maybe it would be worth looking at my calls on DRYS, OPTT, etc.  This is going to happen IMO.  The shorts had a long time of good fun with the miners.  Now that metals are set to rise, the party is over.

By the way, nothing is going to work for stock analysts in the coming 12 months.  All of their traditional metrics will let them down.  Only charting will be of any use IMO.  Time will tell on that very bold prediction.

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