sngyuchao

sngyuchao

Gold, and precious metals, together with miners, are a buy now.

sngyuchao

Previously I had called for more observation of SE after a series of very successful short calls (including one at the very peak price). I also put their very serious lack of financial discipline to the question (before they announced the layoff at various regions of Shopee). Unfortunately, what I can say is that they couldn’t win macroeconomics. Rising cost is...

sngyuchao

The chart should be pretty obvious on where I had placed the completion of the 1st primary wave down and the corrective up wave. Of course, the 1st 5-wave down is not perfect and could be redrawn, but until proven otherwise, I will keep to this count first. The Volume weight moving average price(60) is the latest addition to what I will consider a very useful...

sngyuchao

Previously I called the top of SE and then attacked their lack of financial discipline and heavy cost due to headcount. I was thinking that they only have one model to follow: that of TSLA and that is to cut their headcount. Not long after, Shopee announced headcount reduction in various regions and department. So now, it has a chance. But unlike TSLA, it is ...

sngyuchao

In my last post on bitcoin, I called for a neutral standing and advised to wait before action. Over the weekends, when Bitcoin fell below $20k, hit a Fibonacci level, and then rebound, it was actually a buying opportunity (I was too tired to post anything). But now is still a good opportunity to buy because we have additional confidence that the price will hold...

sngyuchao

I am not calling for a further short of BTCUSD since my last 2 calls had proven correct already. Neither am I calling for long. If anyone had profited from the bitcoin shorts, I think now is time to close out the shorts. Interestingly, Bitcoin narrowly missed breaching $20,000 and Etherum also narrowly missed breaching $1000. I do not believe in coincidence....

sngyuchao

Following my call to short Sea back on 24th Oct (the week of the exact peak), I am following through with another short call. Yes, sounds ridiculous I know. After falling off the cliff, won’t sea finally had enough drop? No. The reasons are more fundamental than technical this time. Looking through the financials, I can see very clearly the heavy costs that are...

sngyuchao

I have been thinking about this quite a bit and since last year, I’ve been a TSLA bear: purely on the technical front. Of course, I can see how popular Elon and the actual cars are. In fact, where I lived, there are more and more Tesla on the road (a Tesla costs more than US200,000 where I lived). But one thing has to be very clear in the world of trading and...

sngyuchao

Since my last posting where I mentioned that btc is going to crash, it had fallen by more than 10k. Now that btc is at a very strong support , there is actually a chance that it will rebound. However, if my Elliott waves counts are correct, that will not be the case. What this means is that I think it will crash even more. What I will want to see for this to...

sngyuchao

I think the waves are pretty clear on the direction of the move. Yes, it has fallen quite a bit already, and the question is really whether it will reverse and continue the stupid bull run over the past 14 years. Short answer is no. For those who needs a reason, I can find one for you. Fed is going to rush to raise interest rates to rush to make up for their...

sngyuchao

Be ready for a crash in bitcoin. We have seen the completion of a correction after the first 5 waves. Now we are on the 3rd wave which is gonna be a huge crash.

sngyuchao

I've re-arranged certain counts compared to the previous posting of AAPL. Other than the change in the placement of the counts, I've also shifted the price target for AAPL. Over here, I plotted a few extension levels that seems to find the most and tightest confluence near the $196 level. And that is why my updated price target for AAPL will be. There is a bias...

sngyuchao

As shown in the diagram, I expect a C wave that will hit the downward sloping trendline.

sngyuchao

What I am expecting here is that we have already seen the end of TSLA. The euphoric rise after the gap up (and after my last call to short TSLA was invalidated and did not materialize because of this same gapping) is tagged as fifth wave in this update. What is not shown in my analysis here is chart similarity between TSLA for the last 3 months compared to the...

sngyuchao

Based on my Elliott Wave counts, we should be seeing one final leg for AAPL before it comes down. However, I am also expecting that this fifth wave will undershoot and NOT make a new high. It will be close though. In any case, be prepared and be nimble. Be prepared to turn short.

sngyuchao

As shown in the chart, while there MAY be some upward leg still left in the "Pearl of East", the current setup favors shorting.

sngyuchao

For your reference. This one is hard to count and is filled with personal short-side bias. Take it with a pinch of salt.

sngyuchao

As detailed in the chart, the purple waves are my primary counts. Note that there is a certain bias on my part for favoring short and thus the Fibonacci extension is used to justify the 3rd wave within the V wave. However, in the event that my bias is proven wrong, expect another wave up (red waves showed the 3rd wave) and coming fall to be only the 4th wave of...