Month: September 2013

NOK, Nokia update

Hamilton

The usual then – Jan 10, 2013 – and now charts;

nok jan 10 2013NOK sept 3 2013

Nokia has entered the anticipated range that we indicated eight months ago. If you bought at $3 you will almost have doubled your money. If you bought at a lower level you would most certainly have done so. The stock gapped up today on the news of the sale of one of its products, if that is the word. It will probable try to inch higher in the next few days. Again the bird-in-the-hand-etc. adage applies. Suffice it here to say that the “normal” retracement level is near the top of the triangle.

F, Ford update

Hamilton

f sept 2 2013

Ford did precisely as expected a month ago (see that blog), completing the b-wave in a small a-b-c wave 2 and starting its descent. For the moment that is a preliminary conclusion but it definitely looks promising. We are now in the first leg of wave c down which should take at least a year but perhaps a lot more and take the stock back to below $8 and , more likely, in the vicinity of $5 or lower. Such a deep retracement is perfectly normal for a wave 2. Once wave c is complete, having traced out 5 sub waves, Ford will be a buy again. Don’t wait for it!

FTSE , Footsie update

Hamilton

FTSE aug 31 2013

This was that other, recent, coincidence. Whatever. In the mean time the London stock index retraced about 76% ( all retracements over the past 4/5 years have been unusually large), but unlike with the DOW , no new highs were made. That being the case we will now assume that we are in the initial stages of a wave 3. As wave 1 was about 900 index points , wave 3 could take the index down by 1.62X that or even 2,6X. (1440 or 2340 point). If any of this happens we will be halfway there. See Bloomberg chart below.

ftse aug 31 2013 b

TSLA, Tesla Motors update

Hamilton

The usual then – 15th Aug, 2013 – and now charts;

tslaTSLA Aug 31 2013

On Aug. 30 the new Elliot Wave Financial Forecast came out and, reading it, I was surprised to see a chart of Tesla Motors in there. This chart is, more or less, duplicated on the right, except that mine spans a slightly longer timeframe, from Aug. ‘12 rather than Jan. ‘13. This allows me to add my own  “gap-in-the-middle” observation. Otherwise the chart is identical in most respects showing the parabolic rise of this stock. They believe the stock will fall soon and retrace the entire rise. Given how many stocks there are and given that TSLA is not mainstream by any stretch of the imagination, it is a huge coincidence that the ONLY individual stock that is mentioned in their publication is one that I discussed less than a fortnight earlier! This is the 4th time this has happened. They charge for their subscription, I do not and I am seriously considering starting to do so soon as it becomes a little annoying to pay for your own stuff in someone else’ publication. For the moment I will just flatter myself with the thought that great minds think alike. Tesla, by the way, is a sell.