$4.00 close today?, page-30

stocktoe

Re; " ... Lapdog - again I have not EW theory down, however, long term holders will remember resistance and support at 2 and 3 dollars. ..."

My comments below should be placed in the context of my expertise & experience. I began wrestling with The Market in June 2007 - a few months ahead of the XAO's ATH! The average length of my 'trades' is about 4 months. After an initial mauling by The Market my equities portfolio is recovering well!

Despite the GFC AOE has treated me very well indeed & IMO is a fantastic prospect for the future.

Although I make no claim to being expert in EW theory my Maths background, experience in practical psychology & training with the 'Safety In The Market' people, together with my trading experience, means I have some understanding I hope is of use to others.

As it applies to The Market EW theory is all about SENTIMENT! If we think things will get worse we are bearish. If we think things are improving we're bullish! The time scale can be intraday, daily, weekly, etc. Software such as ProfitSource which generates EWs provides charts for us to interpret.

In an earlier post I provided several charts for AOE & disclosed that due to my trading plan I had elected to close out my position - temporarily & awaiting re-entry since IMO euphoria was being challenged! I should point out that as of today the same strategy applied to CVN & TAP has cost me some profits [aaaaahhhhhh!].

FWIW I have a 'Buy' on AOE starting from $3.53 [yep, as Max said, "Missed by that much!"

4YIO - NFA - PDYOR