DR.un, Medical Facilities Corp.

This company has a complex structure as it operates in the States but is traded here. It is comparable to an income fund US style with IPCs and other wonderful instruments. Anyway, from an EW perspective none of that matters. Here is the chart.

DR.un july 2010

The move from the lows is clearly corrective, most likely an a-b-c. The implication, of course, is either that we are going to get a much longer and/or more complex correction, or this was it. Either way , some day we should make a lower low. However, in the meantime this may be a good trading vehicle. At around $8 the stock is a buy with a target of at least $9.50 or so. The important thing here is that you are paid well during the carry and perhaps this analysis is wrong and we go much higher. Use a tight stop.