YOU try to recognize a double zigzag and a failed wave 3 after those lying con artists EMC and AMD destroyed that wave 3 attempt. Everything was setting up perfectly for wave 3 until they blasted the market with the warnings.
I've been watching intraday and weekly wave counts for months, and the scenario was set up perfect. Every time I saw this setup, a large up wave at least 1.618 X the length of the first impulse wave formed. I made 800% (yes, EIGHT HUNDRED PERCENT) trading this wave structure since April. wave 1 1619 to 2328, a perfect .500 retrace to 1973.70, and a strong .618 rally from 1973.70 to 2180. This was pretty damn convincing. That was the perfect set up for wave 3, and once we retraced that wave to .500, EMC and AMD destroyed the rally attempt. I lost half of those 800% gains because of EMC. They've been lying to us for months, with EMC claiming that the storage sector was invincible. Every positive BS conference call they had in May was a lie. The shock of their earnings warnings completely annhilated the wave 3 attempt, during the first wave of wave 3 into wave X, and creating the double zigzag formation. Now EMC stock is a pile of depreciating dead money, and they got what they had coming. To hype up and lie about the storage sector's so-called invincibility for months, than come up with a brutal earnings warning like that, you deserve to have all your investors lose confidence in your stock, thus the $15 price on this crap. |
