Hot Pick Of The Day

[New-born baby]

Earthworm City, USA

Stock was well below $1 in 2002.

So you are looking for PARL to be delisted?

[New-born baby]

Mflx

Look at MFLX GO! (South, that is). HUGE drop into the $26 range. It lost 20% of its value today alone!

[spikefader]

Spike,
Where's the bottom on your chart? When I look at the monthly, I see $8.69 is a support from several years ago. Or are you looking at earthworm city?

The TA I'm lookin' at (Burnt Toast methodology) is suggestive of potential for $4.00 support in the months ahead. Then there's the weekly failed fuzzy C looking for a 5th down to $6.00 in the below chart I did a short time ago. Weekly band support isn't until 4.00 and rising. And if you draw the Wolfe Wave projection line from the Red 1 across the Red 4 low, there's another TA-based target line ($8.00). I'll hold that bias while ever 12.05 resistance holds.

[spikefader]

Look at MFLX GO! (South, that is). HUGE drop into the $26 range. It lost 20% of its value today alone!

Last daily chart I did for MFLX:

And this one is when I called the double top back at 60.00:

This is one for bagholders to learn from. Certain significant TA is to be respected ain't it...

[DSteckler]

That's a rare ABC pattern, Spike. B is usually never higher than the high of A.

http://www.elliottwave.net/educational/basictenets/basics3.htm

[spikefader]

Can't be an ABC pattern, Spike. B is never higher than the high of A.

http://www.elliottwave.net/education...ts/basics3.htm

EDIT: Fuzzy B's are often higher (than did you mean the high of 5??) Dave.
We all just need a little edjucashun!

[DSteckler]

See my amended post, Spike.

[spikefader]

See my amended post, Spike.

lol Dave; OK.

You said "B is usually never higher than the high of A." Did you mean high of A or high of 5?

[New-born baby]

Bagholders

Last daily chart I did for MFLX:

This is one for bagholders to learn from. Certain significant TA is to be respected ain't it...

Spike,
lol lol lol
In my book, it is to be respected.

Up more than 1% on PARL

[DSteckler]

lol Dave; OK.

You said "B is usually never higher than the high of A." Did you mean high of A or high of 5?

The high (the starting point) for A. On your chart that would be 5b.

[New-born baby]

Ofg

Spike,
Remember the good old days? When I first came over here, I bought OFG with MM. Then you posted a "caution longs" on OFG's price action, and I listened to you. I bought in at $30.40 or so, and got out at $29.75 I think. Looking back on it, I am glad I got out of Dodge when you said so.

Did I ever thank you for that? Thanks, Spike.

[spikefader]

The high (the starting point) for A. On your chart that would be 5b.

OK thanks for clarifying. I just did fuzzy recount which is probably still formal EW 'incorrect', but probably more within reasonable fuzzy limits for me. Either way, it's a breakdown of a bullish pattern that bodes bearishly. I'd rather be a fuzzy bear on PARL than a blind bull hehe

[DSteckler]

Spike, your B is still not labeled correctly. The pattern is showing an expanded flat correction wave. See figure 17 in this link for an explanation:

http://www.elliottwave.net/educational/basictenets/basics3.htm

[spikefader]

Spike,
Remember the good old days? When I first came over here, I bought OFG with MM. Then you posted a "caution longs" on OFG's price action, and I listened to you. I bought in at $30.40 or so, and got out at $29.75 I think. Looking back on it, I am glad I got out of Dodge when you said so.

Did I ever thank you for that? Thanks, Spike.

heh, yes sir, I believe you did say thanks. Yeah.....the good old days. Back when Vulcans were seeking revenge on OFG. A patient vulcan would have gotten a good % short winner selling into strength on that one! But hey, I don't like to talk about shorting MM picks too much I just wish the 'caution longs' for the likes of MFLX and BBD were headed by every non-diversified inexperienced trader who reads this forum. There's gotta be some pain out there for the lurking lovers of MFLX. Hate to see it.

[New-born baby]

My take: don't take

My take is: don't take this long right now.
Highs to lows sez that $40 is probably the bottom. PnF wants $30 for the bottom, but I think the highs to lows line is more accurate in this case. In any case, I am not taking a long here.