Technical charting, page-338

Patong, you can't help yourself wth your little snipes. Give it a break.

From a chartist's point of view, bear markets usually bottom after a series of sucker bounces that create a sense of optimism only to fall again, often creating a new low. This is what is termed an A,B,C series of waves expected to be made up of 5,3,5 lesser degree waves.

I would suggest that stocks like SMN are likely to be depressed by tax loss selling in the month of June. It could even start in May. Consequently, I believe that accumulation when others are selling should be a great time to buy.

Incidentally, the move up from the 23.5c bottom to 78.0c was precisely Fibonacci 61.8% correction up from the 88.5c move down from $1.12 to $0.235.

That is exactly where an trading exponent of Elliott Wave would have placed his selling order.

Look for the length of moves to be Fibonacci related to other moves. This gives a good indication of what to expect. It requires a little homework.