TS.B , Torstar March 2010

We commented on this one on Feb 15 when the stock was at about $6.20. It reported earnings that were not at all bad and now is trading at  $8.20 +, perhaps this time about 30% is enough, however , the stock will go higher. The exact count escapes me but I assume we had a 1-2, 1-2 to start the 08/09 drop and consequently there would be a 4-5, 4-5 to finish it of. That leaves us with , at a minimum , an incomplete a-b-c up, usually to the 4th wave and about 38%, neither of which has yet happened. Also there is a gap at about $7.40; these occur often in the middle. Here are the charts.

Torstar 2 March 2010 Torstar March 2010

$10 is probable worth waiting for, $16 is posssible but do use a trailing stop-loss order.

By the way, I read that RBC DS has become extraordinary bullish on Bombardier. About time considering that this is the infrastructure stock par excellence.