As you can see from below, my model was pretty incredible this time. I recreated the red circle and green arrow since I didn't want to bother putting in the count. I called the recent peak within 10 cents and then the chart fell hard to throw under the bottom blue rail.
Folks, do not think that the train is leaving the station without you. After such a huge crash we have to be expecting a deep vee second. And yes, it is possible that the Jan bottom was really just the bottom of 3 and then we get 3 waves up and then 5 waves down, perhaps into a failed 5th here. If you didn't catch the bottom, patiently await the coming pullback because the odds greatly support a deep vee second in these cases and you have to go with the odds. A deep vee second would form a perfect inverted owl which would then run up to at least $6. We're talking 500% for the patient gambler that knows what moves stocks (hint: not "fundamentals").
I'll say again for people who just can't swallow their pride and admit that nobody should have been able to predict the recent peak and the recent bottom. It's all supposed to be magick, etc. You certainly did not hear this from Cramer or from MSNBC or from T. Boone Pickens or from anyone else. You only saw it here, and on other sites like mine which practice Elliott wave analysis.
You could say it was all just blind dumb luck but to that I would have to respond, "what, again??".
Yes there is an element of luck but it's not blind luck. It's more like a professional fisherman's luck. He knows where the fish should be and what they are doing at each time of the day, month and year. Same for a big game hunter. This is no different because people are a herding species and herds live by pseudo-predictable habits. No fisherman always catches fish no matter how good they know their prey and many a professional big game hunt has gone bust despite best efforts of the hunting guide. But the odds of getting lucky with these guys are an order of magnitude higher than going it on your own.
May the odds ever be in your favor, fellow gamblers.
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