Happy New Year.
So many AUMazing things are going to happen this year … get out your tin foil hats.
Speaking of tin foil hats, tighten your chinstrap.
I’ve shown before how to use the “what we learned in grade school” to use 3 points to create a circle. That is all we are doing folks … but, what makes the subject a tin foil hat is the fact, well, that we did w/ stock prices. Yes, trust me I know ..
Tonight, I just saw LLY out of nowhere (I used to try and sell into them – try being the operative word – and they were just loyal (to a fault) to their current vendors and, shucks, I really respected that about em’. Made it hard to go back to the boss and say, I’m trying, I really am but they ain’t budging … GREAT people also. So, I know a vast majority of them are really loving their options … so, kinda sucks to do this post, because, parabolics don’t end well. Doesn’t mean that you can’t recover eventually and some have and do but for a while, you’ve simply run out of airspeed and there is NO WHERE TO GO but down …
Additionally, it’s near impossible to call a top on any time frame ( 😉 ) so I’m throwing some zones of possibility into where and take a crack at it … BECAUSE it’s parabolic and we really don’t have a look into their true airspeed or where the throttles are … due they still have power in em’ to keep this climb going or have they been at MAX AB for a while and it’s just a matter of time before you just … stop climbing. And w/ all the geometry I’m going to show below, why can’t we throw a little more physics into the mix? So, basically, it’s just runs out of airspeed and ideas … kerplunk.
For a little more detail here’s a post on it: https://bartscharts.com/2020/09/01/parabolic-moves/
Lilly – wait for a SRC if today was the high – that’s down around 590 ish on the monthly but a daily could suffice also. Else, I’d short at 660 w/ a close stop. From there I’d wait till 739.
For me … 660 seems the most plausible because of the measured moves but also because of the geometry. The latest candle could have done it also but in my experience , it’s just better to have a pattern along/w the geometry.
Do you think 647 was the high?
Sean, I like the measured move target higher. W/ parabolic moves it’s better to WAIT and let the first wave go and then “try” (operative word) to get in on the first pullback …