TRX skyrockets into expected 3rd wave...

In this post I modeled that the 2nd wave in TRX was almost complete.   Today's 17% jump in the face of declining Dow and S+P and NASDAQ can best be described as 3rd wave action.   The back

 test of the resistance-turned-support line was a thing of beauty to behold for traders as it provided yet another confirmation of this Elliott wave model.

 I expect good follow through in the next couple days as TRX finishes forming its 3rd wave.  Remember, buy the dip, not the peaks.  Wait for 5 waves to flow and then pick up shares on the a-b-c retracement.   In other words, I think somewhere around $1.98-$2.02 will be a reasonable entry point.   And it might possibly go to $2.16 before that reversal so don't be shocked to see it if that does occur.   But after that plays out, expect a massive rise because the chart will be in a 3rd of 3rd position and I expect that to show significant gaps up.  The shorts will want to run away from this one ASAP or they will lose all the profits they have in it.

Trader Dan, if you read this please do me the honor of leaving a short comment with your unofficial thoughts on TRX.  I understand that Jim might not be able to make any comments for legal reasons.