CP update, then & now

Then was the 27th of January of 2011, so about seven months ago. Here is that chart;


At the time, see the blog, we made it clear that this might well be it. The count was clearly that of a large B-wave that had completed every minute detail. As always, the initial target was the level of the b-wave within the larger B-wave, roughly $45/$46. Here is today’s chart;

cp oct 2011

As it happens EW nailed the high almost to the day at around $69. It also had the correct initial target to the dollar. This was a drop of no less than 42%, there were no analyst that I am aware of that were even remotely aware of this possibility. Anyway, now we are back up almost to $60, a 50% increase from the lows and a retracement of about 70 % of the drop this year. Also the stock is very close to the 4th wave of previous degree. If you did not sell the first time, you should do so now.