I have been seeing that on my screen on IRESS all day as well.I...

I have been seeing that on my screen on IRESS all day as well.

I thought I would touch base on my elliot wave analysis on BUX as I think I was wrong with my previous analysis.

I orginally thought when BUX was breaking to new highs that this was the start of a new extending impulse wave.

However as we have come to realise this is not the case as the recent share price action doesn't follow the normal rules of an impulse wave.

My current view is that we have just finalised an Zig-Zag pattern that started on the 1 October 2012 and wave B was the recent action from 0.44 to 0.62. The reason I say this as the price action from 0.44 to 0.62 was very choppy, not that of a standard Impulse wave- which is where you see long green bars and strong buying.

This has happened to me before were I have confused an new impulse wave to a B wave within a zig zag.

The recent price action from 0.62 down to current price of 0.465 is the end of the Zig- Zag with a C wave 5 wave impulse down and you can see if you look closely.

Originally I was concerned that the recent impulse correction wave from 0.62 to current price 0.465 was the start of an zig zag down, but I think this is incorrect.

I think we havn't started a new impulse wave and reason being that volume hasn't confirmed it.

Sorry for my ramblings, but the long story short, is that if the analysis is correct, we should be entering shorting into a strong impulse wave of buying being the third impulse wave of a 5 wave impulse.

The third impulse is generally the strongest.

I would give this analysis only probably three trading days. If we don't see massive buying and strong price movements from there that I would say I am wrong again.

Don't take any of this as advice obviously this is just my opinion and would be happy to hear others.
Sorry for long post Cheers,
4fundamentals.