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Ameristar Casinos, Inc. Message Board

  • archieroo2 archieroo2 Sep 30, 2002 1:03 PM Flag

    ASCA TA

    Last I checked in 5 days ago I indicated I thought ASCA was in a long-term corrective pattern following its tremendous bull rally into the teeth of the bear market all around us. I also indicated we were still relatively early in that corrective pattern in terms of time. Corrections are comprised of 3 major moves, labled A,B and C. aSCA is nearing the of wave A. In fact, the recent rally to 22+ was a wave 4 top in the A wave correction. For wave A to complete, we need wave 5 to complete. The question therefore is where are we in wave 5 intermediate.

    If w5 = w1 (common relationship), w5 will stop at 16. w5 = 13 days. Since w1 = 45 days, w5 = 17, 28 or 45 days long. Thus, it is possible to complete this correction within a few days if price drops to 16 area.

    On an hourly chart it is clear we are in w4 triangle that is about to complete and break to the downside. If w5=w1=2, and time of w1 = 3 days on this level, w5 and the higher level wave A project to complete in 16.5 range in about 3 days. That will be a good intermediate swing buy point.

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    • Archie--
      It sounds like you have some deep mathematical formulas working for you.

      I have an interest in using these types of calculations. Have they worked well for you thusfar? Are you beating the market handily? If it has been working for you, where would you recommend I purchase or learn more about the software?

      Thank you.

 
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