GMCR: rocketed 40+% AH today, so what does that mean count wise!?!?

Boy do I wish I had held on to my $70s I bought last year, but sold for a meager 5% profit… Oh well, such is life, and we can’t get hung up on what we don’t have, instead we should focus on what we have. And that is a nice count. Going back longer term brings perspective. I recall I had a Major 1 or intermediate iii label at the $88.50 high from Sept. ’12. It now appears to have been a Major 1. Why? If AH price continues over in cash, and I am darn sure it will, then price is at new highs and exhibits a classic 3rd wave break away gap. In this case Major 3 of Primary III. Target for Major 3 (yellow Fibs) will according to text-book extensions- be the 1.681x extension of Major 1 measured from major 2, which would be ~$175, which aligns very good with the 1.382x extension of PI (blue fibs), measured from PII, which is a typical 3rd of a 3rd wave fib-extension. Major 5, and thus PIII should extent, ideally, 2.000x  wave 1 targeting ~$200, which is also where the 1.618x extension of PI is, again a very common 3rd wave Fib-extension.

GMCR update 02052014

 

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