Saturday, March 7, 2015

[JNUG] update

In the backlink I admitted that I was holding JNUG overnight trying to grub the last penny from a countertrend bounce which I believed would eventually go lower.  That cost me a 10% whacking as my stops got taken out by the gap down.   Remind me to only play in the direction of the broader trend for near term wave counts...  Another lesson re-re-re learned...

The good news is that it didn't just gap down, screw me out of my shares, and then reverse higher.  I lost 10% but the shares were down 20% and the way I look at that is that I will eventually have gained 10% as long as I buy back in at current prices or lower.

In any case, the 3rd or 5th waves could either both extend leading to a lower final capitulation JNUG price.  A bottom at blue 3 would basically be the previous low and so we might find some support there.




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