NAE, NAL Energy Corp.


This energy company warns that oil may just do a little better than I would have expected; or it is living a life of its own. This one gave back all of the rally since March of 2009, short of a single dollar. It was down a rather precise 62% from the highs of about $14. More importantly the drop looks to be a fairly clear 5-wave sequence suggesting it should trade back to about $10.40, the top of a triangle wave 4. I would wait to see if it drops back a dollar or more.