Blackstone not in a place to Buy
Someone asked me to look at BXMT.
Now I know that the Fed just nixed a rate raise, and that should be Bullish for a financial biz.
However, the waning momentum and oscillators peaking and milestone count and position say that BXMT is more probable to fall into that untested 2013 spike bottom to the left near 20.50.
I do realize that my leading diag structure in the wave i of 1 is out of sorts, however the momentum pattern fits and the milestones are in the right place. And the entire wave 1 is wacky, but again, momentum pattern and milestones with the strongest milestone in the middle of the middle and corresponding to a zero line cross.
Just because I can count 5 and v within 5, doesn't mean that there is 5.
But what I do know for certain is that every oscillator in the world is going to be at a high and that is NOT the time to be going long on this weekly chart.
Now I know that the Fed just nixed a rate raise, and that should be Bullish for a financial biz.
However, the waning momentum and oscillators peaking and milestone count and position say that BXMT is more probable to fall into that untested 2013 spike bottom to the left near 20.50.
I do realize that my leading diag structure in the wave i of 1 is out of sorts, however the momentum pattern fits and the milestones are in the right place. And the entire wave 1 is wacky, but again, momentum pattern and milestones with the strongest milestone in the middle of the middle and corresponding to a zero line cross.
Just because I can count 5 and v within 5, doesn't mean that there is 5.
But what I do know for certain is that every oscillator in the world is going to be at a high and that is NOT the time to be going long on this weekly chart.
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