AMC

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ForJL
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Re: AMC

Post by ForJL » Thu Jun 10, 2021 2:30 am

Just a quick update on AMC using two spate approaches. The first is an updated GREG chart with a big change in scaling going from .1755 to 1.51. The second chart is a Vortex. They both seem to be pointing to @43 as a potential downside target. Time will tell.

Joe
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ES_Surfer
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Re: AMC

Post by ES_Surfer » Sun Jun 20, 2021 9:48 pm

ForJL wrote:
Thu Jun 10, 2021 2:30 am
Just a quick update on AMC using two spate approaches. The first is an updated GREG chart with a big change in scaling going from .1755 to 1.51. The second chart is a Vortex. They both seem to be pointing to @43 as a potential downside target. Time will tell.

Joe
Hi ForJL, just a quick post to say thanks. I had my fill at the AMC buffet (all positive), and I'm just trading small size (don't want to give up profit) here and there with AMC as key support comes up (buy side only). I'm going to try and replicate your spirals. The GREG chart is super advanced for me at the moment. I did try searching Gerbino on this current forum and the internet archive of the old wave59 forum with not much success.

By the way, your June 9th possible down move target of 43 was spot on in my opinion. On June 10, the low was 39.71, however anyone trading AMC knows that overshooting S/R happens all the time. With that in mind, knowing that once we hit 43 or below we need to be ready to buy would have been sufficient for anyone to net at least 10 USD off of your target as we went up to 63 and change and I'll assume that we would only take the middle portion of the run back up. I was in that run and used a combination of your observations with what I was seeing real-time on wave59.

I realize you have our own instruments to work on, but If you are so inclined, your periodic observations would be greatly appreciated.

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ForJL
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Re: AMC

Post by ForJL » Tue Jun 22, 2021 11:38 am

Hi ES_Surfer,


I’m still bogged down rebuilding databases which has turned out to be a much bigger project then I thought. Consequently I haven’t been posting much lately. Hopefully that will change shortly.


The Vortex was performing poorly on this so I dropped it. I suppose a good lesson about haste making waste. GREG on the other hand has been performing well. We lost containment a bit on the 10th but if one were to draw a parallel line of the GREG support line (see chart) we end up with a perfect catch. It does that sometimes. As I have stated many times before I am not a big Gann guy but believe he would call something like that “Lost Motion.”


Once I have more time on my hands I’ll post more on the GREG technique as it is done in Wave 59 and help get you started with it. Believe me, it looks tougher then it actually is.


Still doing setup so need to run.


Joe
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ForJL
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Re: AMC

Post by ForJL » Fri Jun 25, 2021 12:59 pm

This is an update for those who are still following this. It should be noted that I am not actively watching this anymore and that these patterns do eventually decay and breakdown.


Joe
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ES_Surfer
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Re: AMC

Post by ES_Surfer » Sat Jun 26, 2021 3:44 am

ForJL, Thank you for your posts on AMC and Gerbino. I've been bogged down in work related matters, and wanted to say that your posts have been very helpful with my trading research. I will make an attempt at my own chart and post on the other thread in the near future.

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ForJL
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Re: AMC

Post by ForJL » Fri Jul 09, 2021 1:03 pm

Hi Surfer,


Glad to hear I have been of some help and will be looking forward to your first effort on the technique. Just give it a try and if you run into trouble I will be glad to help. I have been bogged down myself but with non-work related things which I hope to clear up shortly.

Here is an updated GREG on AMC. I removed that parallel line as it become irrelevant but overall I'd say the pattern is holding up quite well.


Best,
Joe
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ForJL
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Re: AMC

Post by ForJL » Fri Jul 16, 2021 12:38 pm

I received a few complaints on the color change so changed it again in this follow up. I want to again reiterate that I am no longer active in this stock so can't guarantee how long this GREG setup will be valid. Energy decay is difficult to measure and never did get around to doing it here. Additionally I want to also point out that GREG charts can easily be done in Wave 59 and point to the excellent example that Joseph Feinberg did in the Eagle Has Landed thread.

Joe
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ForJL
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Re: AMC

Post by ForJL » Wed Jul 21, 2021 10:37 pm

While I am here I wanted to say a quick word about this pattern setup. No other work is needed as one can readily see by the chart itself that the emery signature has either completely decayed or decayed to the point of irrelevance. Simply put, don't use this any more for any reason. It was solid for approximately six weeks or to about the 12th of July. I sincerely hope it helped some of you, even if but in a small way.

Joe
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