It is disturbing jaded the way you think this is your own thread or that others don't have a right to discus different trading patterns, indicators or ideas to yours.
It doesn't fuss me one bit not to mention wave analysis however, you must be following a different stock if you can't see the sentiment element in DYE's SP path or the impulse, corrective fractal form of its trend since inception in 2005. I don't think Elliott wave analysis is perfect or that obvious a lot of the time, or even there at all on stocks in long term down trends for fundamental reasons. However for a start I find it useful just for gaining some understanding of how stocks can behave. Just draw a line from the top of the first peak in DYE's rally in Feb 2006 or 2007 to the final top. Anyone wanting to truly observe the potential fractal movements will see there are three clear movements up, made up of smaller moves of course. Since then and before those rallies they will also observe a very different corrective pattern of trending.
Discussions move around jaded, but the question of is DYE just following its own path or is there a covert Springtree move/manipulation is relevant here anyway.
Here's one comment on Elliot wave use:
"The Elliott Wave Theory is a technical analysis system that forecasts future stock market movement based on current price patterns. It can be applied to market indexes, individual stocks, or just about anything that can be plotted on a price chart. It is one of the only consistently successful methods of determining how big overall market trends will be, when changes in market direction will occur, and when to enter into market or stock investments."
http://www.wavespeak.com/
I was just putting the concept into the mix and as I have said I'm more interested in a break of the lower low trending and am not convinced the recent rally is a trend changer (it certainly was weak at the top).
GSL Price at posting:
50.5¢ Sentiment: None Disclosure: Held
