oldarmy1 said:

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agdaddy04 said:

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oldarmy1 said:

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BFT taking a look above it's previous 2 day high. This is a retirement account buy.

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What should we watch for on this one for a new entry?

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For a retirement account? Now. You can watch early macro market action capitulation to get it as close to potentially get a flash under $15. If markets just run then it's not going back.

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So, not to beat this to death but this is a post from 3/8 when I bought into BFT - which is now PSFE. It's currently at $4.38. Is it truly still a hold even though I'm at the $15.00 price that it was on the day this was posted? Thinking it was a good buy long term, I probably put too much of my IRA into it. It seems like the company is well positioned to keep growing, but the stock price sure doesn't reflect that.

For everyone watching PROG, this morning topped at $5.05, then retraced down to $4.16. The most recent top of $4.75 was ever so slightly above a 61% retrace of those two numbers. The fact that it reversed rather impulsively from there shows me that this morning's top was a legitimate top, whether a larger degree or a smaller degree, and that we are in a correction wave. The $4.16 low is "a", the $4.75 retrace upward is "b", and we are now in "c". Based on a 5-wave impulsive downward "c", we should land somewhere between $3.88 and $4.16.

If it starts getting below that level then we need to evaluate what it might be doing. And if it jumps back up here then it could theoretically go until $6.46 before needing a major reset.

But my prediction is in the paragraph above.

redneckag said:

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Mazag what does your EW analysis say for BROS? It has taken a beating this month. Thank you.

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I've actually started a TOS watchlist called "Texags waves". So I love getting asked to wave out new stocks.

This one is rather new. It's tough to guage waves when there hasn't been enough chart to have a full setup. But best I can tell, it either topped off in Wave 3 of a leading diagonal at $81.40 on Nov 1 and we are in an overlapping Wave 4, or that was the top of the larger degree Wave (1) and we're in Wave (2). I prefer the latter and that structure makes way more sense.

Wave 4's cannot overlap the top of Wave 1 unless it's a diagonal. And you usually don't see leading diagonals on this large degree of a Wave scale.

But either way, it put in a bottom today that touched off the 610 EMA (a major fib level EMA). It landed just shy above both the Wave 4 61% retracement of Wave 3, and the 50% retracement of the potential larger degree Wave (1). So both options are still on the table.

It that is indeed the bottom, then it should be up from here. So mark today's low as a significant support level on your chart. If it goes below that, the next fib levels are $56.90, then $56.65, Below that and the next major fib support is $51.20.

I want to see a smaller degree Wave 1 and 2 setup going upward before any moves are planned. If we identify the setup, we will buy shares at the bottom of that smaller degree Wave 2 and ride for the long haul, OR, we will wait until we feel it's about to pop and look at options.

But we're not quite there yet. Remind me to look again in a week if nothing major happens.

Can't find any news but something woke IMMR around noon today. Up 6%.

PROG back over $5. It got all the way up to that $5.13 major resistance.

mazag08 said:

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PROG back over $5. It got all the way up to that $5.13 major resistance.

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Rejected hard. We may need to get our popcorn ready for AH

AMD was quietly up 4% today.

How do you chart the wave on TOS?

Bob Knights Liver said:

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What happens if you hold VIX calls into close and end up in the money by a bit? Asking for a friend.

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VIX is cash settled, so you'll get paid the difference between your strike and the actual price.

Ragoo said:

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How do you chart the wave on TOS?

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Right click and click on fibonacci extension. The bottom is your first point, the top of Wave 1 is your 2nd, and the bottom of Wave 2 is your 3rd point. Based on the structure of the 1st and 2nd waves, you can usually form a general idea of which fibs it will be aiming for. But there's a lot of nuance and complicated structures so its not always simple.

Start here if you legitimately want to learn.

Elliott Wave Education: Theory - ElliottWaveTrader

I've been posting as Tomas Hermensa for awhile. I changed my screen name to make a longhorn joke, then they fire Tommy the next day and I couldn't change it back for 6 months and I just remembered today.