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  • AvatarScott Pearcy
    Participant
    Post count: 433

    Trading up almost 7% this morning…..Love the volatility of this stock pick!!

    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    Yeah, it looks like all 5 waves of wave C have completed. IF that’s the case, then we should be in the next major upswing (with pullbacks along the way). We’ll see.

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    AvatarScott Pearcy
    Participant
    Post count: 433

    I was hoping it would drop a little further so we could all get our 3rd tranche….but I am glad it will be heading up soon!!

    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    Me too. Sometimes they hit. Sometimes they don’t. Every averaging we get though is a long-term edge. Glad we got one.

    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    There are 13 million shares short right now, that are feeling the pain of that upward move. When they cry uncle and close out those shorts, it can cause a bit of a short-covering rally. Part of wave 1’s are usually that. It can cause some nice, quick upward/sharp moves.

    ThankfulThankful
    Participant
    Post count: 308

    Great info!

    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    You’re welcome. While that’s not enough shares short to cause a sustained surge…it could cause a nice surge for a day or two or so, whenever these short-sellers feel the pain enough. Right now, they likely haven’t since its the first bounce and they still see a downtrend. But at some point, the bolts get cranked down enough, they experience enough pain and they throw in the towel and that will be part of what aids our shares goin higher.

    AvatarLoveit38
    Participant
    Post count: 77

    Thank you Sean. Your teaching has helped me to understand the market moves a better. Still so much to learn though!

    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    You’re welcome. I’m just glad you’re getting quality info rather than having to fish through all of the junk that’s out there and then learn that it’s junk in hindsight. It took me a while to sift through what’s important and right and what’s not. Y’all are the beneficiaries of that.

    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    Has SAN bottomed? The answer lies in if it mainly holds above $1.93ish per share. If it sustains a move above it, then the downtrend move is likely over. If it materially breaches it, then we’ve likely got another lower low before we see the next major up-move. That’s based off of Elliott Wave rules.

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    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    It’s quite possible that we’ve now seen the bottom of SAN’s downtrend and we’re likely in the early stages of its wave 1 rally higher.

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    AvatarBob Smith
    Participant
    Post count: 133

    Looks good intermediate and long term.

    Looks like it is at the top BB and above the moving average, RSI is at 70 MACD is up.

    Looks like a little dip is due on Monday. I will buy the third tranche on Monday.

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    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    Bob, your chart is zoomed in too close to where it doesn’t shot the breakout higher. When breakouts higher happen, it can (and usually does) hit the top Bollinger Band and doesn’t have to necessarily pull back like before.

    I use the 6-period RSI, rather than the traditional 14-period.

    Not sure why you’d buy a 3rd tranche because you’d just be adding more dollars at risk without moving your breakeven lower, if you bought in around the levels that we did. So, I’d discourage that.

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    AvatarScott Pearcy
    Participant
    Post count: 433

    My break even point on SAN is about $2.20….was hoping to get that 3rd tranche to lower break even to $2 even….

    Sean HymanSean Hyman
    Keymaster
    Post count: 5577

    Yep. Sometimes they’ll hit. Sometimes they won’t. For where I believe it goes, your breakeven should be just fine. This could be one of our larger % gainers, when its all said and done. We’ll see.

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