TWTR: 20+% gap today suggests 3rd wave

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Although I was looking for a 5th wave, and today can still be a 5th wave, often -in my book at least- a monster gap like today is the start of a 3rd wave. It’s a break-away gap. So I’ve re-counted this is what I got.

TWTR update 07302014


8 thoughts on “TWTR: 20+% gap today suggests 3rd wave

  1. Thanks, Soul. This week has been a roller coaster for me. TWTR & X started the week amazingly, but my other 3 trades not so much, at least not yet 😉 I also bought:

    SAM (Boston Beer): looked like the start of wave 3 and good technicals with earnings report on tap. See what I did there? Beer joke.

    WFM (Whole Foods), Looked very oversold and earnings on tap, but no 5 waves up. This was me trying to pick a bottom. Much more risky trade than I usually do.

    YELP as you know.

    The only reason I’m telling you these trades is because I want to be honest about my hits and misses, not just brag about my success like a lot of people do on the internet. As I write this, 3 trades look great, 2 trades bad. We’ll see how they unfold.

    Thanks again for all you do!

    • Nate – we can’t win them all. that’s just how it goes. 3 out of 5, is a hit rate of 60%. Not bad! The average trader wins about 2/3rds… Not saying you are average, what I mean is that you do well.

      You can see my trading log and know I won’t win them all either. You’ll see that I often sell (way) to early and buy to early… Nobody is perfect.

      FYI:l My TWTRs got sold today, due to 5% trailing stop. Am I happy about it!? yes and no. yes because I made a profit, no because it could have been 5% more. Do I loose sleep over it? No? Do I have more money now than before: yes! WOHOOOO!!! That’s all that matters!

      • Any way you slice it, your TWTR trade was successful. Profit = Success. Plus there’s always another opportunity jump back in if you choose. GL!

        • Thanks Nate, agree. Just a bummer to see a gap down open trigger trailing stop… Oh well. I jumped back in FB today, will prob do same with TWTR.

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