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  • AvatarMario bishay
    Participant
    Post count: 25

    I can’t believe Eni Stock price today!
    Also SLV, Sean Told us it could take another way down but honestly (thanks for selling some of SLV based on his Sean recommendation) did not expect it to go that low .

    Yet Eni is a shock for me so far

    Sean HymanSean Hyman
    Keymaster
    Post count: 4535

    I’m not sure why either of them would shock you when I’ve told of their potential moves ahead of time. Now yes, I did think that Eni was probably at the end of its wave 2, but it’s no big deal that it’s gone a little further.

    We shouldn’t expect an oil stock to soar until oil soars. And so far, oil itself is still in wave 2, and could pullback some more. I’ve forewarned about that, time and time again too.

    By the way, when do the masses (and sometimes my subscribers) get emotional? Waves C and 2. Which one are we in right now? 2

    So the question is: How should you be thinking about it, in light of that?

    Did you lose sight of the fact that it’s the 11th largest oil company in the world? Think oil is going away? Nope. Not for a very long time. So I don’t lose one wink of sleep over expected pullbacks along the way.

    When oil went from $6 to $44, were you shocked then? What comes after huge upside volatility? A correction. Downside volatility. What comes after that? Upside volatility, etc.

    But an oil stock is generally not going to rally until oil itself does. And I’ve been warning of a potential larger pullback in oil as I’ve drawn it out on the charts, often on our USO position. So I’m wondering if you disregarded it, forgot it, didn’t believe it? Because I literally draw it on the charts ahead of time, what’s possible. So there’s no need to be shocked at all. The uninformed investor that has no system and way to gauge things is the one that should be shocked. Trying to input a little sober thinking here. It’s our job to keep our heads about us when others lose theirs. That’s the difference between successful and unsuccessful investors. We get to choose which we’ll be, by how we choose to think.

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    AvatarMario bishay
    Participant
    Post count: 25

    Honestly, yes you said so, But I’m Shocked that it went that low. I was thinking of my third level of buying E.. i still believe that oil is not out yet, and stick market always goes down before Elections !
    thanks for sharing your thoughts about it

    Sean HymanSean Hyman
    Keymaster
    Post count: 4535

    Here’s the screen shot of the weekly video where I talk about likely moves for oil. Notice that one of them is notably lower.

    Where you’re most apt to “lose it” and not keep your head about you is in waves C and 2. So, knowing that, you should have the opposite view. Being most excited about its future because what comes after wave C’s? Wave 1 rallies and the entire 1-5 uptrend. What comes after wave 2’s? Massive wave 3 rallies, etc.

    Don’t get fixated on what it’s doing or what it’s done. Focus on where it should be going over time. It’s a realignment of the focus and setting expectations properly.

    Glad I could be of help.

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    Avatarsshetty
    Participant
    Post count: 112

    I took the opportunity of averaging down on E….thanks Sean

    Sean HymanSean Hyman
    Moderator
    Post count: 2925

    3rd tranche?

    Avatarsshetty
    Participant
    Post count: 112

    yes Sean

    Sean HymanSean Hyman
    Keymaster
    Post count: 4535

    Good. I’m glad you got all 3 in.

    AvatarAndrew Davenport
    Participant
    Post count: 51

    Remember the shock of being down more than 25%?

    Not that it always happens this quickly, but look at where Eni is at today along with several of our oil/gas positions!

    This same scenario has occurred multiple times in other positions. Stay the course, average down, and lastly be patient.

    Sean HymanSean Hyman
    Keymaster
    Post count: 4535

    Yep, I tell wave counts ahead of time and explain the sentiment with them, so that my subscribers won’t become the prevailing sentiment of that wave. As much as I try, some still forget what I teach. So, thank you for reiterating it.

    I’ve also drawn out the path that value stocks take. Most of the time, they go down, then sideways before they go up. But when they go up, they can sometimes rocket higher. Either way, with our averaging down, we can have sizable gains even without an uptrend in the stock.

    People get shocked on the downside but for some reason they’re not shocked when the stock pops 12-17% in a day. Hmmmm

    I’ve taught about people only being scared by downside volatility. Yet upside volatility is still volatility.

    It’s why subscribers need to mutter the things I say on weekly videos over and over again to themselves so that it gets engrained within them. Most investors don’t have someone telling them each week where things are likely to go over the coming months and the sentiment associated with each stage of the process. Subscribers have HUGE edges that they don’t always take full advantage of. I’d venture to bet that the ones that panic in waves C or 2 are also not listening to each weekly video and are probably just skimming the monthly newsletters. Little knowledge in, means you’re more subject to fears/emotionalism. Knowledge is empowerment. Being mindful of that knowledge, even more powerful.

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