Pete, Elliot Wave, Pete Currently discussed on Prosper
Now that Ryan Cohen's about they're going to switch the e commerce and the stock went from the third. It was actually around five in August. Tonto in the thirties recently and then this month it ran up to, I think, 145 $150 and then on Wednesday, the 27th in overnight trading it hit 3 60. Okay. And so the story remains to be seen how that's gonna end. But there's been an enormous short squeeze. So there's other stocks that are acting like that as well. And I guess it's one of the signs of euphoria that you mentioned. Obviously, How does that translate to? What were the work that you're doing right now? Because of the euphoria, you're not investing long right now. It's just just so everyone knows. We offer an account of Charles Schwab that Pete gives us the signals and we buy and sell for our clients based on Pete's recommendations, and since we started in September of 2019 It's up 40% Since that time versus 23 for the S and P 500 in 2020. The strategy was up 19.14 versus 18 for the SNP, But the big difference is this account was never really down all year. Whereas if you if you bought the S and P 500, you had to endure huge decline, and then it came back and by the end of the year Get a nice year where with the peat strategy. We were in cash during that decline, and we actually were able to avoid it. And you know, we didn't make his much once the market was rebounding because we were more cautious, but We certainly had a decent year. Not not a great year for repeat standards, but you know, still slightly beating the S and P 500 where you didn't have to endure that big roller coaster now, if anyone is interested in learning about Pete Strategies are. In fact, I know Pete offers a knee email to his subscribers and some people pay $1000 a month for if anybody wants to receive that email, where Pete will give you his analysis and recommendation for three weeks at no cost. Text the word Spartan 2474747 texts Where Spartan 2474747 So Pete Currently, you know, you are very cautious about the market talk about as of late January. What's making you be very cautious and what's making you potentially be bullish. What's keeping us cautious is there is there is a market time technique that is called the Elliot Wave. And there, Elliot Wave has five cycles that has 33 strong up upturned cycles to two corrective waves. And, But the fifth way, which is the one that we've identified they were currently in is the most euphoric wave. And it is the wave where things get Sylvia and ridiculous which they are now, just as you mentioned about Gamestop to, you know, Think about what you just said. Back one from $5. 2 300 or two over $350 in a very short period of time, Okay? And what I'm talking about a company that has found the cure for cancer but talking about a brick and mortar company That's gonna that's going to be transitioning supposedly To E comments so How? How much competition this game stop. Have lots. Ah, lots and lots. So this is that way? Five euphoria. It is very dangerous. There are a lot of people out there that are gonna get really hurt very, very soon. This guarantee, and we've seen this movie many, many times before. And they're always ends. Ugly is not this easy to make money where he's just throw money in companies that are that are just not viable or that are failing. Or they have very little to no profits and their going from 5 to $350 within a very short period time. Another one. He's a M. C. M. C went up within a couple of days. 5 600%. It was last time anybody wants for a movie. I don't know anybody. I again it. Did AMC just find the cure for cancer. No, it is its stock price is not wanted at these levels and the only reason why it is that these levels It's because you have the Robin Hood Day traders that think they're the masters of the universe, and they're just throwing money to the wind. It may be doing well now, but it's gonna be short lived, and all of them are most them or 95% of them are gonna be annihilated. Extremely soon. Trust me on this one. I really like, you know, we've seen this movie many, many times before. And the ending is disastrous. Yeah, All right. You heard here her so listeners. Obviously, this strategy is a trading strategy. It could create additional diversification. If you consider it is part of your overall portfolio. It's not buying hold. It is from trading, but There is risk. If you want to learn about the risk of the potential reward calls it 866 wealthy will be happy to talk to about this trading strategy. We do it all for you. In your accounts. You don't have to do anything but sit back and watch and again If you want to see three weeks of the emails of our daily trades and our analysis text, the word Spartan 2474747, and we will get you on that list to get the Three weeks email to you each morning and I think it's very, very valuable. So take advantage of that. Text The word Spartan 2474747. Thanks for joining us, Pete. Thanks for having me. Yeah, well, stay tuned, everyone. We'll see how this all turns out. We'll be right back.