Once again the TSE in detail. No further comments.
Month: February 2010
CRW.un (Cinram) Feb 2010
This one falls in the category of buying anything under $1 and sell for $3 and do it often enough and you will make money. It worked once with this one and may do it again. Short term the chart is not very clear as it made a low of 60 cents together with everything else in March. From their it MAY have started a bullish trend (or corrective one to the first gap). The 60cents should hold so a buy at 70 might just be the right level. Once bought you cannot control it as it is already so low.
You do this once and it will not work, do it often and it will be very rewarding (think Ford).
PS. The low was 61 cents not 60, yesterday’s drop was 61 %, this thing is full of Fibo numbers.
TSE Feb 1 ,2010
Quick update on TSE. It did the proverbial 1000 points, just shy by 20/20 0r so- now what? Here are the charts in detail;
The charts have different time frames! Click on them to enlarge. The entire drop too about 3 weeks therefore the counter-trend wave 2 might consume about a week to 10+ days, on average. A minimum retracement would be about 400 points and perhaps even 600. Looking at the last leg down AND given the surprisingly negative tone after the great GDP numbers in the US it points to a wedge (diagonal 5th wave); if correct we should at the very least get back up to 11420. If on the other hand we are looking at a 4-5, 4-5 series this logic does not apply, but 400 points up does. If this is the beginning of wave 3 of a larger degree , it may pay to err on the cautious side and get short earlier rather than later.