RE: The Wave 4 story14 Dec 2018 00:36
Here's my take on Wave 4. Every great share story encompasses big rises, and every big rise is followed by a big fall. That's because this is AIM, a shorter's paradise where scum make their money from scaring and shafting weak holders that jump on big rises.
To ride on the back of shorting activity, Elliot Wave was invented - call it shorting for amateur day traders.
Basically, it works like this. Respected LTHs with big holdings predict the inevitable wave of selling after a strong rise - conforming to the usual big rise/fall pattern. They predict a lower price target, using their gravitas to encourage (frighten) holders into selling. They also sell into the drop - with the help of a few of their mates, assisting the shorters and driving cheap shares into their hands.
With Wave 4 (or whatever wave) complete, the crooked EWT theorists buy back into the inevitable re-rate from a lower position, thus earning more shares than they ordinarily would have had they just held.
Damage done and buying back in from a new, lower position, but not really confident enough to predict the future because they're only interested in instigating a wave of selling for their own benefit, you may then find said EWT enthusiasts telling everyone they'res going away for a few weeks. They'd hate to be made accountable if they're wrong about where the share goes next, that's out of their control - although this is BMN, and every great share has great rises.
Please note, said enthusiast may filter those who attack his theory, so he is no longer answerable to an opposing point of view.