In the backlink I am bottom fishing for YGE, hopefully within a few days of a dramatic reversal percentage wise. I bought a partial position recently and am looking to add at the next EW defined entry point.
We have now seen a lower low so below is the current count. I'd like to see a final vee type bottom that breaks the lower rail leaving a unicorn tail and then heads back up as shown below. I have a buy order in to quadruple my current meager holdings at $0.30.
Note that Prechter and Frost wrote that commodities often extend the 5th wave and YGE's output is essentially the energy commodity. When it becomes more expensive in all ways (including China's massive pollution issue which must be part of the cost equation due to the obvious impacts on people's health which equates to the productive output of their economy) to run coal fired power plants, alternative energy is going to have a field day. I'm hoping the wave count will help me catch the bottom here.
Of course, YGE could just be a bottomless pit of losses for gamblers as well. This is a hail Mary play for sure so keep your bets small relative to your overall portfolio size if you choose to play this.
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