As predicted in my last dow chart, it has had some trouble just below 27000. However it seems to have reacted the same as the bullish clone so I am buying up stocks again. I see this as being the cheapest stocks will be all year and a perfect time to buy, although I see it as 50/50 weather we make a lower low before heading up. Dow is going up to the moon before crashing back down and I intend to profit from both. People never learn, clones are king :p
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Rally due in terms of time and price now :D Buy time
I liked your October call. Now you are saying 30k Dow...
JamesRkaye
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@thesilverbullet, Thanks I'm glad you liked my October chart, that was more of a warning of a possibility of a crash at those levels which I still think could be possible so it is important to know what level you would need to get out at if you are long, however with elliott wave if a wave 1 and wave 3 are of similar size then we should expect an extended 5 wave, also the clone suggests an extension too so in terms of risk/reward I would say it is a good time to buy in again, or wait until the 27000 level is broken.
Will_Wong
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If this is as your chart indicates the post wave 5 correction, then the eventual drop should be much lower than what we have seen so far.
JamesRkaye
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@Will Wong, yep but we don't need to worry about that for another few years. I'm thinking it could possibly wipe out all of wave 5s gains but it's hard to tell for sure.
We are buying into a long term bubble in my opinion.