Staff - re: your post # 19372 OK, OK, I believe you. Your target of $16.30 has been breeched. Enough already. When do we start the "vigorous attack"? I still think 20k volume is low - but it seems to work for you! Submitted with tongue-in-cheek, but you are correct so far!
O.K. so I got a little sloppy. The rules of Elliot Wave Theory would require the low of April 29 to be violated so my $16.30 was a guestimate based on an incorrect reading of the chart. The low of 4/29 was $16.20 so we hit beat that by 20 cents. We shouldn't go much lower before the "vigorous attack" begins, maybe early tomorrow. It should be a doosie of a rally but not to be traded if you are not already "long" because it will be hard to catch the low and high of this wave (wave 5 of wave 3 from the low of March 23). Fifth waves are hard to trade unless you are on the trading floor.
I compounded my sloppiness on that one. The low of 4/29 was $16.02 not $16.20. We have at this point violated that by $0.05 so that is enough. Per: UCMJ "violation however slight is sufficient to complete the act"
Are you suggesting that when this impending rally starts in CXW that it will run up and then turn down again sharply? What do your waves project for this 5th wave, and following trough? And no, I am not trading. Unfortunately I am, and have been for a long time, a holder in CXW. It sure has been costly over the years! Thanks for your comments.