Looksmart Limited (LKST)

[andy20020]

riccosuave .. neat name! Re Elliot wave stuff .. yep I'm beginner in this ... if you have time can you tell me what areas of the theory didn't work for you in practise. I generally just use the three cycle retrace concept (rather than being strict about 5 wave cycles) as I'm a firm believer in the Dead Cat Bounce in all retraces. And any reasonable stock seems to retrace to Fib expectations, there or thereabouts The (rough) projected bottom of this move was initially $3.06 and I did see some support there for while this morning ... I figure, rightly or wrongly, $3.06 was about where the shorts ran out of steam so we wallow till news good or bad hits, completely at the whim of market sentiment ... ($1.79 was only a worst case scenario that I figured was a non-resign of MSN option).
Make sense? Tell me more about your Elliot experiences ... working very well for me of late BTW, very very well (but not to the letter of the theory!)

Regards