The Long Investor

$BABA TOP 20

As the saying goes, when Wave 2 is long, Wave 4 can be short.

Moving down nicely to the 0.38 Fib which is the most common level to complete Wave 4.

Moving in a controlled manner and in line with the HSI and many Chinese tech stocks.

$BABA is certainly a position I will be looking to add too when support is found

I will alert the group when I have added.

LESSON - FINDING FUNDAMENTALLY UNDERVALUED POSITIONS

I have researched a lot of Buffetts positions and have found a number of common traits which I have listed above.

This is usually the criteria he was before entering a position

Once he is in, he adds in a buy zone and as it moves higher.

A lot of the hard work and research is done before he buys.

$GCT

$GCT have just been attacked by short seller Grizzly Research who I know quite well

He goes after Chinese equities but has been wrong before, most notably on $PDD, where he said the share price would decline but then jumped 100%

My thoughts is that he shorts, to add at lower prices.

Which is a standard tactic by Wall St, where he does have an office

This -14% decline no...

$DJI

$DJI since inception.

This is very compelling

The Super Cycle between Wave 3 and Wave 4 consolidated between the 1.618 and 2.618 from 1959 to 1983

And we can see that the price action right now is consolidating between these same levels but now we are in Wave 5.

This is just an observation for now.....but a 50% decline from here brings the price exactly to the 200 MA on ...

$IWM - WATCHLIST -

Chart is suggesting a melt up is possible here for small caps, as support was found on the 200 Day MA and has bounced strong since.

A new high would need to be achieved above $211 to trigger a bullish move higher but there is no denying that the $IWM looks a lot more attractive here now than entering the $SPY right now.

Wave 3 target remains at $245 with no changes

$INDA - RC -

Indian exchange continues to move strong and has used the previous high from 2021 as a test of support before moving higher, it tested the $51 level 3 times before bouncing to a higher high.

This is what we always like to see, a retest confirmed by a number of attempts to solidify the support level and then a move higher.

I expect this to continue higher to $56 with a possibility it...

$COPX

Pulling back slightly now so where this finds support will be interesting and could present another opportunity

We can see that the 50 Day MA is moving up to the breakout level at $47.20, so if the price action and 50 Day MA meet at this confluence level and there is a hold, then you have your buy signal

First Target would be expected next at $67 over the next 6-12 months.

$YINN - WATCHLIST -

Naturally $YINN is moving with the HSI and other large Chinese Stocks and also pulling back for its own Wave 4, after breaking out above the $30 level.

I have added in the impulse waves and the 0.38 Fib support level, where we expect Wave 4 to pull back to at $27.70

A hold here and we have our buy signal and expect a move up to Wave 5 next at $40.

$TGT - EARNINGS JUST OUT -

$TGT earnings have just been released and it is a miss here and finally gives us a Wave 2 pull back, after Wave 1 jumped from $102 to $181.

I have added in the impulse wave here to show us where I expect this to move over the next 18 months.

PM is showing a -6.5% drop, so we are well on our way into Wave 2 now.

Between the 0.5 - 0.618 Fib is our area of interest now, where the...

$REMX - WATCHLIST - SAFE HAVEN -

Big test coming up for $REMX which is an earth and metals ETF.

Commodities are moving strong lately too, so this may benefit from this move.

Support was found on the 0.78 Fib at $46 and since then, the 50 Day MA has been recovered and the 200 Day MA is likely to be tested next at $57,

A flip of this level to support and the bulls have a good chance of breaking out of its chann...

$TSLA TOP 20

I saw a few puzzled heads on X wondering why $TSLA bounced yesterday but we know why.

It found support on the confluence level on the 0.5 Fib and 50 Day MA and bounced.

Bulls want to see a higher now above $199 and $TSLA can attempt its 200 Day MA at $215 next.

Clearly both of these levels and $TSLA is in a good position to make an attempt on breaking out of this very long wed...

$PDD - EARNINGS JUST OUT -

Revenue: $12 billion, up 131%, BEAT BY $1.5B

Net income: $4.2B, up 246% Diluted EPS: $2.83, n

Impressive Beat.

PM is up +8% now on this news

No changes to our chart and we can see that the price action has made a higher high now above its Jan '24 high.

Comfortably in Wave 3 now and I expect this to continue higher to the 1.618 Fib at $194 now.

$PFE

Has bounced strong since its earnings but is starting to show signs of curling at the top so it may be time for a pull back to show us whether this is the start of a reversal or there is one more leg down to Wave C.

A pull back to hold support on the white fib levels as shown will tell us some early signs that a reversal is on but losing these levels and you should wait until $24 is hit.<...

$WULF - RC -

$WULF is not in a bad set up right now.

Still in this triangle but still drifting higher slowly.

Able to stay above the 200 Day MA too.

So bulls want to see a breakout of this triangle at $2.60 and if crypto is about to make a move higher, $WULF will likely benefit from this.

$MRNA

$MRNA is on a fast track route to the 1.618 Fib now at $170.

That retest of the ascending triangle breakout level at $115 was a clear buy signal and many members bought on this.

Any pull back here is an opportunity to catch some of this Wave 3 to $170 or you may consider waiting till Wave 4 now to catch Wave 5 higher to $204.

$HAL

This may be one of the strictest looking ascending triangles in the market right now.

Holding the ascending bottom yellow line perfectly since the Covid low in 2020.

Price is just around the 50 and 200 Day MA now and the drift up continues.

$43.96 is still the level to break out of for a strong move up for Wave 3 and into the Bull Case.

But a nice set up for us here when...

$PLTR TOP 20

$PLTR without EWT is still giving us the same bullish indications and set up, moving up to the same PT's too.

We can see that Cup and Handle formation tops out at the $29 level too

And the current price action is in a bullish flag holding above the 0.618 Fib and above the 200 Day MA, with the 0.618 level at $20.13 being an important support level over the last year.

Stick with...

$JD

Operation normal for $JD here too and pulling back with the HSI and $BABA, the timing of this coincides with their $1.75 Billion public offering updated today, which may have been a stroke of genius to release this on the same day the HSI was pulling back anyway.

I believe this pulls back to Wave 4 as shown.

The public offering is to help with expansion for overseas expansion, usua...

$DOGE

Since Crypto appears to be back in Vogue, here is a reminder of the $DOGE chart too, which has not changes either, like the $ADA chart.

A clear hold and bounce on the 0.618 Fib too and about to test the bull case line again at $0.17, flipping this to support and going above its previous high at $0.23 and Wave 3 is all but confirmed for me.

Could be a good few months here for $DOGE.<...

$ETH

Lets just take a moment.

$ADAUSD - WATCHLIST -

$ADA could be ready next folks.

It has done a great job holding on the 0.618 Fib at $0.44 for the last 5 weeks like we projection, now we need to see it test the 200 Day MA at $0.52 and flip this level to support, it has already converted the 50 Day MA to support.

If we can see this, we could start to see strong move up next to complete Wave 3.

$ETH and $BTC are starting to m...

$QQQ - 5 YEAR LONG TERM PROJECTION -

We are getting this drift up here as rates have been delayed so I am watching for the 2.618 Fib at $461 as a potential top for this Wave 5 which is a Cycle Wave 1.

Then we will have a year and half of a correction to complete the ABC pullback of Cycle Wave 2.

This is what I will be primarily building my cash for now to take advantage of this pull back.

You could by the $QQQ be...

$BABA TOP 20

Pulling back in the nick of time.

I said at the weekend that $BABA had gone above its 1.618 Fib for Wave 3 and I did not want to see it go any higher before pulling back for Wave 4 and this is what we are getting now, which is great to see.

The momentum was certainly with $BABA last week post earnings, so no surprises to see it overshoot the 1.618 Fib but as long as I see a 3 wave p...

$SHOP TOP 20

$SHOP will likely have my attention for the next few weeks as I build on my position

We started our position yesterday with our First Buy from $HIMS profits, as we like the look of the price action holding support on this confluence level, on the yellow trend line and the 0.5 Fib at $57.61.

Price also pulled back to this level today for a test and held again, which is a good sign th...

$HIMS

After a 31% jump day yesterday, $HIMS is letting off some steam today and this is how I am seeing this unfold now.

We did not touch the 1.618 Fib yesterday at $21.24 so we are likely in Subwave 4 now of Wave 3 before one more subwave higher to complete Wave 3.

We took profits yesterday at +30% on the day and that has turned out to be a good decision before the pull back.

So ri...

$BIDU

Like clockwork, we get the Wave 2 pull back, holding support today on the confluence level on the 0.5 Fib and the 50 Day MA at $104.

A hold of support here and you have your buy signal to add to your position.

I have accumulated a lot of $BIDU between $115 - $100 so I am not looking to add right now, I am happy with my position but I would be more interested with adding to my $BABA ...

$NIO TOP 20

$NIO continues to move sideways here, above the 0.38 Fib and just sitting on the blue support line at $5.30, we still can't rule out a flush down to $4.81 or the 50 Day MA before a bounce to move higher.

Losing the 50 Day MA would not be a good look here.

$NIO reported 4400 numbers today which is one track to hit their 20,000 a month target for May.

More of this is needed but ...

$ETH

The moment $ETH broke above the $3155 level that I have been alerting for the last 2 weeks, it took off, up now 10% since the breakout.

Beautiful textbook work here from $ETH, 0.5 Fib hold, in a descending bullish wedge and gave us a corrective wave pull back for Wave 4.

I know the next question that will follow.....is it too late to add now?

if there is a retest of the...

$JPM

Jamie Dimon has explained today that he believes $JPM should not buy back any shares at these elevated levels.

And of course this makes sense.

Price has run from $101 to $200 since November '22 to May '24.

Why would a bank buy back shares touching on ATH's.

One of my main issues with share buybacks, is that I see it as a last ditch attempt to safeguard a share price. 2024-05-20 18:10:47 +0000 UTC View Post

Rules of Thumb for Selling and Buying.