NewStream Energy Technologies Group Inc (NSGP)

[trader53]

A Review of where WE are today !

Currently, CCTC is in WAVE #3..........

Using Elliott Wave Theory,

Elliott Wave Theory
Back in the old school days during the 1920-30s, there was this mad genius named Ralph Nelson Elliott. Elliott discovered that stock markets, thought to behave in a somewhat chaotic manner, actually, did not.

They traded in repetitive cycles, which he pointed out were the emotions of investors and traders caused by outside influences (ahem, CNBC) or the predominant psychology of the masses at the time.

Elliott explained that the upward and downward swings of the mass psychology always showed up in the same repetitive patterns, which were then divided into patterns he called "waves". He needed to claim this observation and so he came up with a super original name: The Elliott Wave Theory.

The 5 – 3 Wave Patterns
Mr. Elliott showed that a trending market moves in what he calls a 5-3 wave pattern. The first 5-wave pattern is called impulse waves and the last 3-wave pattern is called corrective waves.

http://www.optionsoutlet.com/trading_technicals/images/improv31.gif

WAVE #1 - .03c up to .42c ( Impulse Move Up )
WAVE #2 - .42c down to .10c ( Corrective a,b,c Move Down )
WAVE #3 - .10c up to ??? ( Current Move Up )

Wave 1
The stock makes its initial move upwards. This is usually caused by a relatively small number of people that all of the sudden (for a variety of reasons real or imagined) feel that the price of the stock is cheap so it’s a perfect time to buy. This causes the price to rise.

Wave 2
At this point enough people who were in the original wave consider the stock overvalued and take profits. This causes the stock to go down. However, the stock will not make it to its previous lows before the stock is considered a bargain again.

Wave 3
This is usually the longest and strongest wave. The stock has caught the attention of the mass public. More people find out about the stock and want to buy it. This causes the stock’s price to go higher and higher. This wave usually exceeds the high created at the end of wave 1.

Note: WAVE #3
The stock, CCTC, has caught the attention of the mass public,( AD in Business Week - 40 Million readers )and ( more posters on the board )and the high of WAVE #1 was .42c

CCTC should, based on this Theory, exceed .42c on this WAVE #3 that we are currently in right now, based on technicals, and supported by market emotions of investors.

http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=6&dy=0&id=p23347057644