VG - Want some more? - Correction Over! Long! Pulled back just like we thought, and has just completed the 3rd leg a Elliot wave A-B-C corrective wave. Also is wave 4 of the bigger wave. We have piercing pattern candle completed too, with a bullish confirming candle.
Elliot says wave 4 cannot retrace into the high of wave one, so if our count is correct, we have a nice tight stop of $.15 to $.20 and we can reevaluate.
People complain about this stock, but IMO it is acting just like it should according to both Elliot wave and XABCD/Harmonic and fib traders.
Vglong
VG - No Country for Weak Men - Big Boys Want You to SellThis is a new idea but relates to my earlier idea. Patience! I have drawn a a classic harmonic AB=CD pattern. I quote ( paraphrase ) from Carney's book, "....it's hard to make yourself believe the stock will reverse because the sell off has been dramatic and the stock appears weak....but you must sell at D...not believing this initially cost me a lot of money"
So in addition to the pattern, you have Connors RSI approaching 10 level again. At this level you have bullish candle sticks - hammer, engulfing, and yesterday a doji. The director just bought some stock, not much, hey. And they just announced the Google thing. And then there is the Elliot Wave Count, which doesn't break any rules and meets many of the guidlelines for wave formation. Finally, this is an area of support that has held since the summer of 2015.
So everyone says it's going down, but all signs point up. This is the time to buy, and sadly when most people sell and get out. Am I talking myself into staying in this trade? Perhaps, but my strategy is clipping along at 83% success, and one thing I know is - you must EXECUTE if your system says to. can't listen to the hand wringers and stock twits. If you're wrong, you are wrong, can't win em all.
Look, for at least a move to the C point - the 61.8 fib level 7$. We could see $9 - the 1.618 level and a target for a wave III move.
