2/13/2017 – pretty cool triangle on BIDU.
the ‘book’ says it should break down but not sure I trust the book these days … go w/ the flow I say.
patterns worked in this case – they don’t always (see UAA) but the pattern hit at 247 and the stock dropped to 90.
now we consolidate in a triangle … who knows what’s going to happen next so go w/ the flow.
just an update.
be well, do good, rock on – ok?
was on some quick travel today and saw the “twitter-verse” (read universe) rocking and rolling about BIDU. I remembered that I had done a post in November 2014 about Twitter and — believe it or not in March 2014 (almost a year ago). In March, as soon as we made the new high from July 2011 I was starting to look for a 5th wave. As you can see below, in March that was too early. Now, it did hit the target and back off roughly 30% but, ultimately, it kept plugging upward.
So, back to the drawing board, and per below came up w/ 250 as the next target. That one has held – for now – and just looked at the “after market” and she sold off roughly 10% and is trading at 195 bucks.
The “targets” that are derived are pretty good … the waves are pretty good but folks, it’s all probability. the face that we are down to 195 a year later doesn’t surprise me and the fact that 250 held (to the cent) per the work below doesn’t surprise me. And, one last, guess what? The fact that 250 got rolled over to the upside wouldn’t have surprise me either …
PICK your edge … fundamentals, basic technical analysis using moving average and oscillator stuff, flip a coin, music … it doesn’t matter. All your edge is going to give you is a higher probability of something happening than not happening … So, if it works, great. If it doesn’t, great.
Just decide how much your going to lose and that’s all that matters …
Rock on dudes and dudettes!
OBTW – check this out.
Square root: 15.81
Square root – 2 = 13.811
(13.811)^2 = 190.75
please take a look at the chart …you can’t make this shit up.
was too early on this count, as you can see below. Now, we are approaching some very stiff resistance as shown. another target is 295. all that being said, still believe we are in the 5th wave advance here ….
CLIFF NOTES: very strong probability that a 5 wave advance is complete on BIDU
Here’s the last look at BIDU working on a 188 target for wave 5: http://bartscharts.com/2013/10/21/the-ray-charles-count-on-bidu/