simple guy Posted January 28, 2003 Report Posted January 28, 2003 WE IS READY TO HEAD DOWN. A beautiful 5 wave move up unfolded this afternoon to the 25.05 print top. This is a beautiful fibonacci retrace and the completion likely to mini wave 2 upward, an A B C rally (2 days of it). We should head now towards 22.63, my new wave 3 bottom over next week or two... then a wave 4 correction up, then a wave v down to complete the 3rd wave...off the Jan 13 highs. So for now, imminent reversal ahead....
simple guy Posted January 28, 2003 Author Report Posted January 28, 2003 Note on RYVNX fund (Im still holding) SHould gap up and out towards 76.xx next several days on a thrust upward mini wave 3 move from 67.xx close today. Amazing how in one day we go from bearish to bullish out there... as in the media, pundits etc. The 18 hour war? How about 18 months? All good news is fully priced in and then some. As I said, I will be buying gold stocks in March sometime, I've been patiently waiting for a pullback there... Faves are DROOY, MDG, GG, HMY. I picked up my lone long position a few days ago. IFNY, an oil and gas play small cap. It broke out today to new 52 week highs on expanding volume. Commodities remain in a secular bull market, paper stocks and assets in a secular bear. We should begin down at some point tomorrow. If you see a print below 24.34.... then we have CONFIRMED my view of the Q's and we are heading to 23.70, then 22.63.... If we move above 25.14, then I have to re examine...
simple guy Posted January 28, 2003 Author Report Posted January 28, 2003 Ticker should have read IFNY
simple guy Posted January 28, 2003 Author Report Posted January 28, 2003 For those of you not keepin score at home The bull market in hard assets continues UPL, IFNY both broke out on big volume today to 52 week highs. Good time to buy these, they are very undervalued long term. http://finance.yahoo.com/q?s=UPL&d=c&k=c1&...1y&l=on&z=m&q=l Above chart link doesnt include todays closing price of 10.24 on UPL. Disclosure: I own IFNY at 8.74 recently.... have watched both for a year.
The End Posted January 28, 2003 Report Posted January 28, 2003 I agree SG, we should head down. Unless of course 5 extends. :wink2:
Guest Posted January 28, 2003 Report Posted January 28, 2003 It's funny, I lost 2.4% today. I can't remember the last down day I had offhand. I bought more today at a price a little lower than I could have gotten it in the afternoon but, I want to be as fully invested as is safely possible when the next leg down comes. Looks like I won't have to wait long. Don't forget SG, come to NYC (I have no idea where you live) and there's a steak dinner on me. :wink2:
Guest Posted January 28, 2003 Report Posted January 28, 2003 SG If you are right about this one, and I have no reason to believe that you aren't, we're going to be making some good money. I thank you for taking the time and putting in the work. Great work. I salute you.
DogBoy Posted January 29, 2003 Report Posted January 29, 2003 Yeah, scrotums to da wall. Wake me up when we get there. I believe in ya plus I see lots of confirmation with other anal cysts take as well.
StanWeinstein Posted January 29, 2003 Report Posted January 29, 2003 UPL, IFNY both broke out on big volume today to 52 week highs. Good time to buy these, they are very undervalued long term. UPL Undervalued? Price/Book (mrq) 7.27 Price/Earnings (ttm) 125.13 Price/Sales (ttm) 22.73
PileDriver Posted January 29, 2003 Report Posted January 29, 2003 Yeah, scrotums to da wall. Wake me up when we get there. I believe in ya plus I see lots of confirmation with other anal cysts take as well. "Wake me up when we get there", ha good one. That's how I'm playing it.
crooked_analyst Posted January 29, 2003 Report Posted January 29, 2003 SG - Thanks for your posts...as usual, you've beed damned accurate. If I could ask one teensy weensy little favor.....PLEASE BE RIGHT TONIGHT! Both cheeks are full of DJX Puts and I have so many shares of PM's that I can barely move from the weight alone! Again...Thanks!
BigWave Posted January 29, 2003 Report Posted January 29, 2003 SG, Tanks for the work and sharing with us , your efforts are truly appreciated by this stoolie. BW
SideshowBob Posted January 29, 2003 Report Posted January 29, 2003 SG, I'd like to add my thanks to the list. Your posts have helped get me off the fence and short. I had about 5 minutes between meetings at work today to get any new orders in, all I had time for was the intraday put/call ratios. When I saw the equity p/c ratio was below 0.5, I threw all I could short. After being down 9/10 days, we get one up day and they're all bullish again? And the VIX dropped off a cliff.... SB
robinhoodlum Posted January 29, 2003 Report Posted January 29, 2003 long live sg!!!!!!!!!! tanks a million
Rockhead Posted January 29, 2003 Report Posted January 29, 2003 I picked up my lone long position a few days ago. IFNY, an oil and gas play small cap. It broke out today to new 52 week highs on expanding volume. SG......... IFNY has NOT broken out to 52 week highs. Unadjusted for splits (to make the comparison easier), on April 1, 2002, closing price was 11.38, April 2, 2002 closing price was 9.73, May 13, 2002, closing price was 9.50 and on June 17, 2002 closing price was 9.49. Today it closed at 9.49, and its intraday high was 9.50. Volume was up today, but still less than January 22, 2003. Also am curious as to how you see this stock as undervalued? Hope the trade conitues to work for you!
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