IBB: http://bartscharts.com/2014/02/23/another-chart-biotech-ibb-w-a-parabolic-rise-sir-isaac-newton-is-still-yet-to-be-proven-wrong/
about the BIDU and CMG charts …
CMG: http://bartscharts.com/2014/03/22/chipolte/
BIDU: http://bartscharts.com/2014/03/31/bidu-follow-up/
about that WYNN chart from March 2014
about that LNKD chart from Sept 2013 …
CLIFF NOTES: short term option play expecting support to hold for the gap area 128-140. (?) Note we have gone thru the previous 4th of a larger degree….if the high was 3 at 250 then price shouldn’t go thru 122 ish as a 4th wave correction does not go below wave 1. Interesting to say the least ….post from 09/2013
now we don’t want to catch a falling knife as I hear that isn’t fun … however, that being said, look at the chart below. Just like we showed parabolic take offs in GOOG, IBB, PCLN, AAPL, etc we have the equal and opposite affect when something is being hammered in a liquidation phase. So, we look for “the start of the campaign” and use that as our radius and basically try to capture the move DOWN and note it’s acceleration at the 3 o’clock position. This can “usually” be a point of looking for the BOUNCE or the SUPPORT to come in and then work a lower time frame chart for the retest. Don’t recommend just blindly jumping in BUT expect the area shaded blue to hold and then try to work a pullback to get long .. certainly is looking beat up, isn’t it?
about that SOCL chart …
CLIFF NOTES: expect 14-15 to maybe be support but the 5 wave sequence is complete and I consider this space done for a while …My last post on SOCL is below. Missed it by a buck:
quick look at China
in what appears to be the largest IPO ever ALIBABA should be coming to the street …pushing the limits of 20 BB it’s something to be watched. Not for the John Q Public but for the banks Credit Suise, Goldman, Morgan Stanley, etc. are going to make 100’s of millions on this one. So, I don’t think they will let this one go by the wayside …
but here’s what’s interesting … we have the Chinese Yuan FX pair causing quite the unwind and a representative ETF, FXI, of China is on a clff …here, take a look:
this sure is an amazing dance to watch … kind of reminds me of the Blackstone (BX) IPO . These two charts should tell you the story:
the bears are getting hungry and this IPO is going to be one heck of a show. the biggest IPO in history couldn’t possibly end up w/ the same fate as BX? Could it …? Stay tuned …
TBT
Semi Conductor Index
Silver and 14/oz
Cliff Notes: sure looks like a 4th wave triangle working out …a,b,c,d,e and we are in a rally up for e and then down into 14. EXPECT 14 to be BIG TIME support. Also, this is showing the high as 3. I have mentioned before I am really not sure if it was a 3 or a 5. BUT a BULLISH pattern is at 14.
DISNEY (DIS)
CLIFF NOTES: recommend take profit w/ a weekly close below 76.
