Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

$WG- Breaking out of the gate

With oil ($UCO) being up so much since the beginning of the month, it is a matter of time before oil service company such as $WG breaking out to play catch-up.  Today is the day $WG kicks off the starting gate.

Take a look at the daily chart below, today breaking out of the last week pivot high kicks off the start of wave 3 of the Elliott Wave Theory.  According to the theory of Elliot Wave, wave 3 is normally the longest wave of the 5 waves pattern.  Therefore, I expect today price action will zigzag all the way to previous high of $10.45 or more.


Needless to day, I bought $WG when price action took out last week high.

My 2 cents.

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