Then (a year ago) and now.

Bayer dec 18 2011Bayer AG dec 28 2012

Sometimes things do not work out. This is one of those times. Rather than succumb to bear pressures this stock decided to go in the opposite direction. It is a good reminder that the EW approach, or the practitioner, is not entirely infallible. At least we got the A-B-C part correctly, so in the event that one had played this one aggressively short, the damage would still be minimal (as measured from first blog!); and that assumes that no stops were used.  Now that we are here one must assume that there is either a distorted flat A-B-C on its own, or a triangle, equally ugly. The measurement for the triangle would be around $105. However the trend line is right here and the Mnt. Everest target is at an even $100. Our inclination is to get out or go short again even if demand for aspirins is about to explode.