[JNUG] update

In the backlink I admitted to doubling down on JDST on Friday.  I was working off the model below.



In the late afternoon I got the email alert that indicated close proximity to the lower rail.  When I looked I saw 5 waves down that kissed the lower rail in JNUG and so I bailed out of JDST at almst exactly the low of the day. Why bail?  Because the model above suggested that support would be found at the lower rail and that wave 1 of C would kiss it but not be able to break it down.  I was hoping to double dip here by assuming that a move to the prior 4th would come tomorrow AM. 


Then I went back to work.  But checking the extended trade action just now I see that they hijacked the count with a quick, low volume move back up to the prior 4th.  Of course, its now to late to trade so now we can only expect them to gap it down tomorrow AM.  Bastards!


And so I expect a gap down below support tomorrow as shown below and then this should find its way to the lower rail.  Once the lower rail of the B wave HT is broken (especially with a gap as shown below), odds are pretty high that it will follow through to the $37.50 range.  At that point, JNUG becomes a mega buy with tight stops.  Keep in mind that the price is only an estimation, the wave count is the only thing that matters.  The count should be clear and not ambiguous because it is a C wave.