Wednesday, March 18, 2015

[JNUG] update

The JNUG action didn't follow the backlink model exactly but the essence is the same.  But the action did put a twist in the chances of this being 3 up as opposed to C.  The threat model is below.  Watch for that upper parallel rail either holding or breaking out.  If it holds we could still see a double bottom here as shown.  But if it busts through with gusto, forget it, the bull in M+M is back with target price for JNUG being certainly greater than $50 and more likely $70 or higher (up to $200 if this is Prechter's C of B wave...)

Buy the dips, do not chase momo peaks.  The dips will come!  Especially BOLO 5 waves up and then 3 back because after that we can expect very, very quick moves up.

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