Monday, March 7, 2016

[ORIG] update

In the backlink I provided the chart below.  In this chart I provided a potential bottoming count but pointed out the fact that the chart would look better if blue 5 were the same length as blue 1.  At the time, it was one vertical unit shy of parity. 

Still, I was willing to call it close enough and I just removed all stops after buying that unicorn tail.  My commentary from the back link was: "So we could end up with a unicorn tail down into the $0.66 range in the AM trading tomorrow in order to complete the wave."  $0.66 was clearly my bottoming price target for this.  Initially it looked I had bought the exact bottom but then we got a 4th wave HT and  one more lower low down to exactly .66.  The result of this is that blue 5 was made almost exactly equal to blue 1.  Game on:

The zoom in below shows the bottoming action in ORIG:

How can things work out like this if fundamentals are driving stock movements?  Logical answer for people who can think for themselves instead of being led around like sheeple by main steam media and Wall St is that fundamentals don't move share price.  Herding instinct does.  There is no way these turns can be called by me or anyone else with any kind of accuracy unless that fact is first understood.  Stock movement is controlled by odds based, apparently but not actually chaotic movements of a the herd know as humans.  The Elliott wave principle is the only herd movement prediction tracking mechanism with any kind of accuracy that I have ever seen.

In any case, since the bottom we have had quite a run but I think it is just getting started.  Have the patience to buy the dips folks and if you are a conservative player then don't buy all in at once.  Spread the purchase out over a few days.  You might not catch the huge windfall of buying the exact bottom but you will still do very, very well.

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