Today I bought a very small amount of YGE, only 1k shares at 49.5 cents per. This was intended to be a 50% position in an admittedly high risk bet and I'm hoping for one more move down as shown below (i.e. 44 cents) to get the other half. A nice double bottom right here along with recent news of YGE getting its largest contract ever in China might breathe some life into the shares at this point, at least according to my EW model. Note that other past deals outside China have in in fact been bigger yet the stock still plummeted so you really can't trust the news to be a reliable indicator of future stock direction. I'm buying this because of my interpretation of the wave count, and nothing else.
This could easily BK just like MCP did. But I made good short term bank on MCP by buying into its death rattle using EW to time the entry point and I avoided giving much of it back simply by using EW defined stops.
YGE will be another test of that. It has also given going concern notice.
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