- At the current price of $1.88, TRX is rapidly approaching my retracement price target.
- The wave structure itself is not playing out as expected.
As usual, an ending diagonal is not confirmed until the chart at least touches the bottom rail (but more likely breaks down through it) and then comes back up into the channel (1st confirmation) and then subsequently break out the top rail (2nd confirmation). Any subsequent break down through the top rail is cause to sell immediately as the pattern will have been invalidated. But what we have here appears to be a very nice inclining double bottom in the making. There is every chance of making 80-100% in the next 3 months if you can catch this at $1.78-$1.80. The C wave shown is where C=A. If C were just 38.2 % stronger than A then that's where the doubling potential comes in.
A regular reader recently asked a question about TRX, wondering if it was good value at these levels. My response (see comments section of this post) might be worth your time to read because you just don't see people speaking plainly about stocks very often. It is common to come up with all manner of ways to impute value onto the shares in order to create the perception of value where no real value exists. I'm not selling anything so I don't need to do that. Even my blog loads lightening fast because I'm not selling 3rd party controlled, malware-ridden ad space. It allows me to retain an unbiased view that I hope is at least entertaining if not useful and informative.
Bottom line: stocks that do not pay dividends have no value. None. Zero. Any valuation of them is just made up by stock salesmen who ask you to imagine a time in the future when value could possibly appear so that they can offload stocks on you TODAY and collect a trading fee. So in that sense, TRX is a horrible "value". Even at 10 cents it would not be a "bargain". But the chart suggests that current holders of the shares should see an influx of idiots who don't understand this and that represents an opportunity to sell to a greater fool in a couple of months at a fat profit. This is what I am suggesting, and it is what I myself intend to do. My plan is to take advantage of fellow speculators while at the same time they attempt to do the same to me. It's pure gambling and anyone who calls it investing is either a patsy or a con man.
1 comment:
Thanks Captain for the separate blog post on TRX. I'm in at $1.73 and also in on DRD at both $2.73 & $2.55. Any new developments or thoughts on PAAS? I would like to add some silver to my portfolio and this one currently pays a nice dividend. I was hoping to be able to purchase closer to $10 or single digits but not sure how much lower it will drop. Thanks again for all your time and effort into putting together this excellent website.
-J.T. Marlin
Post a Comment