TLM, Talisman

In July when the stock was about $19 we predicted a drop to about $8 based on a simple EW pattern, the “flat”. Here it is again;

tlm 2011

Relative to the stylized flat drawn in the chart, the drop is a little slow but has already gotten close to $11. Notice that there is no correlation between the price of oil or gas and the stock price. Last time it reported production up 10%, cash-flow up 29%,earnings from operations up 38% and net income up 48%. So why is the stock down 50%? The waves??