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On the Daily time frame, we have completed a perfect 5 wave advance, which is now correcting...probably down to $1.95 ish; from there based on a Weekly time frame, we will soon see $3.53.
Chart Pattern response: I agree. The previous pattern starting back in Nov 4 - Jan19 looks the same as Aug 15 until now; so there is a $1.60 move pending. We have to close above $2.08 and make a run to $2.26. If that holds, I think we have a shot at $3.11. Will need market help
$2.39 Coming?
What a day...closed the gap at $2.15 and is testing that area.
After a slight profit taking pull-bac; we should see $2.39 soon if not $2.50
$2.60 Coming?
I think we longs will feel a bit more pain tomorrow.
I expect her to drop down to $1.77; then blast off to $2.60
wave pattern busted...much more selling than expected.
Where is that big short squeeze????
For the wavers out there; looks like we completed a 5 wave up move earlier this am; then corrected and now we should run to at least
$9.38 by end of day. Next stop after that is $9.78.
Looks like Mr. Market will post pone the next wave up; but it is coming.
This correction will probably take the SPX down to 1380 if not 1360 in the next week or so; then up we go in the normal Fall bull run
Mr. Market will have to help to see $5.00
This correction will probably take the SPX down to 1380 if not
1360 in the next week or so; then we should start the normal Fall bull run. I am long and holding....
Someone on the Yahoo message board posted that UBS initiated a "BUY" on AMRS; but I can't find anything to verify????
Just as soon as it came out she dove .10 cents...go figure.
See Weekly chart for Waves.
Bottom Jan 2012 to late April = Wave 1
Wave 2 then to mid March
Wave 3 to high in July
Wave 4 ended at $3.00..
Wave 5 now in progress and can run plus $3.00 from here
Wave 4 is complete.
Next stop is $4.35
Possible to run to $5.71 with help from general market
Buy now on ANY pull back.
I posted at #2969 and #2971 and called for a $3.20 print.
We are just about there for a great buy opportunity.
But it may go just a bit lower to $3.12 first...But still LONG
Does not mean that I would bail at $2.60; holding for much higher print
Nice action today; good buying at the end shows strength. Should roll up to $2.60 very soon
I am LONG, and very bullish on this company. Got in sometime ago, therefore don't need any lower price...just pointing out some entry points so others can pile on. Nice action today
I see that; and it too made Motley Fools "3 Reasons to Sell"...another reason to Buy. Also, for the "wavers" out there:
top of wave 3 is $2.11; then slight pull back, and top of wave 5 is
guess what = fills the gap! Amazing set-up on that pattern.
Thanks for the heads up.
To LivinginStyle: in a direct response to your question "how does EW work?"...a great question; and I would say it works because so many thousands of traders "Believe" it works..simply that. As I said earlier, for one to use it as a sole indicator is stupid.
With so many "believers" out there, their trades can push price movement.
In an earlier post (see #163) I commented that the wave pattern would print a dip down to $1.73. Well, I got real lucky that it hit at exactly that number; but it gave "wavers" a total orgasim furthering their belief that the wave pattern was intact
EW is just a theory is correct; however many times price movement will in fact follow an EW pattern of 5 waves up with precise retracements. In this case, I see we are in wave 5 with a target of
$2.61. Once that is complete, the next wave target is $3.31. And the next wave target is $4.65
I find EW useful for short term price movements; about 3 months; after that it is not much use. So I can't go out any further than a price projection of $4.65 at this point. To use EW as a sole indicator is stupid; and I fully agree with the previous posts concerning the fundamentals and management etc. Along with EW I use 4 other indicators on my charts, and do consider fundamentals, as well as historical price movements....all of which are now very bullish. Good luck to all Bulls
$1.97 must hold today or else the 5th wave will have truncated
You can thank Spain and Motley Fool...both idiots...but together the pressure is just too much for the short term
5th Wave has started. Will hit $2.60; and it may hit it quick as the "Fools" at Motley will have to cover their shorts. Now that they have crapped in their shorts, they ought to go out to their nearest Pac Sun store and buy some new shorts!
Nice pop...thought it would take place, sooner than I thought, but I will take it. Strong since market is weak; have to keep profit takers at bay
I believe she is ready to pop; would love to see a .20 cent move up today, but feel we will see 2 days of sideways movement, then the pop
Close above $3.75???? No way...see ya at $3.20.
I dumped this POS this am...will consider re-buying at $3.20.
Good luck to all...but you will feel some pain for the time being
Hedge Fund support? Not likely...terrible day...$3.20 coming soon
With market help maybe this afternoon...we could print $2.06 today
TODAY: if we can get a nice short squeeze going, we could hit $2.09 today
$2.61 is in line IF we close at or above $1.98 TODAY
It must go up today for a shot at $2.61.
If she fails today we'll soon see $1.15
Wave 1, 2, 3 and 4 complete with the $1.73 print today. Now let her run to $2.61 in her 5th wave. Hopefully this 5th wave will not truncate, therefore we need market help.
#1 on Hedge Fund Lists????? With the past price action last week and today....I don't see accumulation at all.
Looks like $1.73 might print today
To Last Crusader: I do hope that happens, but it sure would take some key positive news to do so and buck the past historical trends, Look at a 4 year weekly chart and you'll see from high to next low, price retraces 48% most of the time (once a little above 50%). Interesting is that from the last high and low, the 48% retrace is $4.24 and we have a gap fill at $4.36. To me there will be a huge battle at these 2 levels. If we break thru on volume, you could be correct
In regards to my earlier post #163...after today I am more confident it will print that number. Market strong today and we go down is not good. Will need to rally HARD on Monday to change my mind
TOP 1..good thing is that the cup and handle continuation pattern may print $4.72 or at least we'll close the gap at $4.36. Will be interesting to see what happens after that??? Any thoughts. PS..have calmed down after looking at longer term charts.
She is about ready to break down HARD soon
Just broke $3.74...pain pain to set in now.
I am long, but this is going to be painful to watch
Going to feel some pain for a few days; possibly down to $3.41
Looks like a small pullback is in order before it runs to $4.37 to fill the gap
Looks like wave 3 is complete. Expect to see a pullback to $1.73 over next 10 days; setting up a run to $2.61. Then another pullback, for a final run to $3.31