Why Elliot Wave And Understanding The Nature Of Cycles Are So Important

Aurora Gold, ARXG.OB, a speculative rocket, is up about 10% right now at 1.74 in a Wave B up of an Elliot Wave ABC correction. In Wave C it should fill it's downside gap at 1.05. So, ARXG.OB should fall to 1.00 or below from 1.74 now. This is why Elliot Wave is so important, but the Wave A short term downcycle's trendline was too steep to be the (likely) minor intermediate term downcycle trendline. A good understanding of the nature of cycles would have led one to believe that the downtrend was a (Wave A) short term downcycle even if you didn't understand Elliot Wave. The Yahoo chart is a day behind and you can't see the downside gap but here it is http://finance.yahoo.com/q/bc?s=ARXG.OB&t=1y&l=on&z=m&q=c&c= .......... http://www.JoeFRocks.com/