Each trading day seems to have its own personality. Identifying the operative persona helps to fine tune signal charts. Here are the 5 minute and 13 minute personalities for today. Which one screams to be followed?
I had a $3,000 profit on the supposed pullback/collapse. However when the market resurged this past Mon/Tue it turned into a $300 loss before I sold.
I'm not upset on the loss and am still on the lookout for signs of weakness and the eventual collapse - but until then I will play what the trend gives me and go LONG in the short-term.
NNVC is really frustrating at the moment. I have had my position for over a year and a half and it has done nothing but move sideways. This makes me think that perhaps my money could be working better for me elsewhere (GFRE comes to mind been in since 20c) However, I don't want to sell my position because as soon as I do I have a feeling the thing will take off. Any comforting words Allan?
A word on NNVC. It will take a plunge before moving up substantially. Take your money and invest it wisely elsewhere. NNVC isnt going anywhere for a loooooong time.
Nah, sorry you guys are all wrong. Goldman Sachs is the new croupier, and you guys are trying to win in the Goldman Sachs casino. You might have some fun in here but don't expect the boys at GS to pay you for hanging around. They will gladly shoot you before they will pay you. Warmest regards from NYC, Joe
Well Wavers, this is an exciting near-term juncture because if the September 23 highs marked the top of Primary wave 2 (circle), today’s high should mark the top of a very small degree second wave, which implies that a strong third wave decline lies directly ahead.
Allan, that commentary from 'EWI thursday night' about a completion of Wave 2 is the same basic idea I'm looking to determine....however I dont think it has played out this quickly. I think what we saw this week was only the first part of the wave 2....the (a) of a-b-c...and the whole of wave 2 is stretching out for a longer time frame. I want to see something like 5 subwaves up (a) 3 subwaves down (b) 5 subwaves up (c) to complete "wave 2" I think we need to watch it play out for 2 more weeks.
I love all these posts. everybody has a different point of view. But I think youre right about one thing ,Joe, this is Goldman Sachs Casino game for sure. BUT.... counting elliot waves is like counting cards,and if its done correctly, the trader can win.
You know when the game is over, is when Warren Buffet sells GS not until. Allan says nnvc north of a $1.00 by years end. My prediction south of .50cents by years end.
Does NNVC being a good company and a good stock mean that it will make any money in this environment? If it hasn't shot up since March, what makes anyone think it will shoot up with what's to come in the general market? I see economic doom descending and I can't see how NNVC will be unaffected by it.
I can't trade any more today because I get distracted by Angelina Joli's beauty
ReplyDeleteBaminvestor is holding tight with their recommendation ...
ReplyDeleteInvestors--No change in our existing positions--we are long FAZ, SRS and DUG also BAM model portfolio.
Is BAM really good? Allan, your view on it will be much appreciated!!
ReplyDeleteThanks!
I love this new look. LOL Take a look @ TLR.
ReplyDeleteBest,
Goldfungus
Nice Tattoo. So much better than the charts, love the new look,easy to understand.
ReplyDeleteThis could be become my favorite blog. Nice piece of work.
ReplyDeleteBAM went short last Friday, reiterated short on Sunday and lost their ass on Monday. So far, not so good.
ReplyDeleteAllan, would you say the pressure is starting to build?
ReplyDeleteI had a $3,000 profit on the supposed pullback/collapse. However when the market resurged this past Mon/Tue it turned into a $300 loss before I sold.
ReplyDeleteI'm not upset on the loss and am still on the lookout for signs of weakness and the eventual collapse - but until then I will play what the trend gives me and go LONG in the short-term.
Again Allan - thank you
ReplyDeleteMike
NNVC is really frustrating at the moment. I have had my position for over a year and a half and it has done nothing but move sideways. This makes me think that perhaps my money could be working better for me elsewhere (GFRE comes to mind been in since 20c) However, I don't want to sell my position because as soon as I do I have a feeling the thing will take off. Any comforting words Allan?
ReplyDeleteA word on NNVC. It will take a plunge before moving up substantially. Take your money and invest it wisely elsewhere. NNVC isnt going anywhere for a loooooong time.
ReplyDeleteWE WANT THE REDHEAD!
ReplyDeleteToday was definitely the top in the stock markets.
ReplyDeleteDon't laugh too loud about BAM. It will make BOOM soon.
Nah, sorry you guys are all wrong. Goldman Sachs is the new croupier, and you guys are trying to win in the Goldman Sachs casino. You might have some fun in here but don't expect the boys at GS to pay you for hanging around. They will gladly shoot you before they will pay you. Warmest regards from NYC, Joe
ReplyDeleteBAM, it sounds like Chef Emeril !!!
ReplyDeleteFrom EWI Thursday night:
ReplyDeleteWell Wavers, this is an exciting near-term juncture because if the September 23 highs marked the top of Primary wave 2 (circle), today’s high should mark the top of a very small degree second wave, which implies that a strong third wave decline lies directly ahead.
Ditto Goldfungus!
ReplyDeleteThanks again for sharing Allan!
$INX Daily:
ReplyDelete1up 03/06(low) to 06/11
2dn 06/11 to 07/08
3up 07/08 to 09/23
4dn 09/23 to 10/02(?)
5up 10/02 (/) to oblivion.
If we can't have the Redhead then we liken to this count instead. Channel UP!
Allan, that commentary from 'EWI thursday night' about a completion of Wave 2 is the same basic idea I'm looking to determine....however I dont think it has played out this quickly. I think what we saw this week was only the first part of the wave 2....the (a) of a-b-c...and the whole of wave 2 is stretching out for a longer time frame.
ReplyDeleteI want to see something like 5 subwaves up (a) 3 subwaves down (b) 5 subwaves up (c) to complete "wave 2"
I think we need to watch it play out for 2 more weeks.
...... 13 minute chart looks easier to read
ReplyDelete"...today’s high should mark the top of a very small degree second wave, which implies that a strong third wave decline lies directly ahead."
ReplyDeleteHuh? The action from the high today looks totally corrective to me, hence more upside to come.
- cramar
This is a very important night for BAM forecast in the US Dollar Index. Model says it spikes higher and kicks-off global stock market crash
ReplyDeleteI love all these posts. everybody has a different point of view.
ReplyDeleteBut I think youre right about one thing ,Joe, this is Goldman Sachs Casino game for sure.
BUT.... counting elliot waves is like counting cards,and if its done correctly, the trader can win.
You know when the game is over, is when Warren Buffet sells GS not until. Allan says nnvc north of a $1.00 by years end. My prediction south of .50cents by years end.
ReplyDeleteDoes NNVC being a good company and a good stock mean that it will make any money in this environment? If it hasn't shot up since March, what makes anyone think it will shoot up with what's to come in the general market? I see economic doom descending and I can't see how NNVC will be unaffected by it.
ReplyDeleteWell if your waiting for Buffet to sell GS you will have a long wait. Now let see how long has he owned KO? It's his mantra to never sell :)
ReplyDeleteRe: TLR
ReplyDeleteThanks, Gf. Chart looks stellar, any other reasons to buy?