Catching the Wave: A House of Cards
Last week, I mentioned Green Mountain Coffee Growers (GMCR) as an example of what investors should expect the coming quarters to look like if they stayed too long in the Stamp.com (STMP) parabolic rise.
My column was published the morning of Nov. 9, when GMCR was trading around $70, and I illustrated a weekly chart with Elliott Wave labeling. I showed the October low near $56 as wave iii down, allowing an Elliott wave iv bounce to stretch up to the 200-day moving average near $78, before wave v down followed to complete the rest of the "initial" decline from the September high at $115. That would be labeled "wave A."...482 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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