[YGE] very likely bottomed.

In the backlink I was thinking a bottom could be possible in the low 70 cent range. 

 

It turns out I was correct in calling a bottom, but off by a whole wave as is easy to occur at the very end of a long trend.  Indeed, the shares began moving up almost from the day of that call and they gained 33% to the price of $1.00 within just a couple of weeks of that bottoming call.

However, then the lost steam and have since put in 5 clear waves down so the count is now quite clear.  YGE is a screaming buy in the 40 cent range and in fact even 70 cents will likely turn out to be cheap soon.  I plan to buy some of this on the first dip I can find and then treat it as a non-expiring call on Chinese solar.

 


The power of EW is that it gives you confidence to buy when others are panicking.  I'm not saying YGE can't go BK.  The shareholders are already effectively wiped out.  But I also know that when the herd is in risk off mode, it stops thinking longer term and caves in to the tyranny of the tactical.  Losers are often sold off first making them even worse losers for the near term.  This is what seems to have happened to YGE.  I hope to get 3k shares under 50 cents on Monday.