Loading ...JDST Update
I love the smell of a GAP in the morning!!!!! Gap up rules apply… EWO is happy!!!!
Now if I have my counts right, (i) finished at 8.02 (Note projection was at 7.99 – not bad!!)… then down in two for (ii)…. and now we’re headed up in five waves for a (iii)… (iii) has to be at least as long as (i) which would be 8.81… Note projection for (iii) at 9.10 with a possible extension to 9.48… (iv) should be complex since (ii) was simple but should not exceed 38% pullback….
Now look at NUGT!!! Do you see it starting to form!!!!!!!!!!!!!!!!! WOLF WAVE!!!!!!!!!!!!!!!!!!! NUGT is going even lower since my snapshot but you get the picture….
I just re-entered JDST on the JNUG backtest.
http://schrts.co/tZb2u6
Risky trades right now… I trade minor 2’s and minor 4’s sometimes minute 2’s and minute 4’s… but only to exit and re-enter at a lower/higher price… trying to trade in and out of long and short over time has proven not to be profitable for me – stick with the trend… In a market correction like we’re having now the Gaps will eat you alive and the pullbacks are normally shallow…. just not worth it…
I hear ya and I’ve been dinking around both long and short and not getting much traction after booking a large short gain over a 6 week period. I look at charts like this and think that the bottom is truly starting to fall out though and I’d like to start rebuilding a good sized short position. I’m not sure we will see “ideal” entry points for a long while.
http://schrts.co/IgTLdY
Getting close to your DUST 19 buck gap fill target…PSAR on 60 is a sell…
http://stockcharts.com/h-sc/ui?s=DUST&p=60&yr=0&mn=1&dy=15&id=p64867140379&a=388664339&listNum=1
true….but then again I see some fractal similarities in the DUST chart suggesting we could hit a parabolic multi-day run to retest $23.
http://schrts.co/66IRqF
Nice fractal, real nice…you’re right, could have one big exhaustion gaps upswing…
I’m also really liking the looks of the JDST weekly. Appears to be scooching past a pivot right now vis a vis falling wedge on improving moneyflow. A longer term target of $25-$30 would surprise me.
http://schrts.co/7fpczB