NKE update

nke dec 20 2012

We were wrong in expecting this stock to drop straight to about $70. It did not. The error stems in part from the fact that the 4th wave in wave 1 down is barely visible, reason to believe that we were in wave 4 of one and not wave 2. So half a year has gone by and here we are and now it looks like we could start dropping soon again. Wave of 2 is presently in a minor triangle so a quick little burst up of a few dollars is still possible but in the big scheme of things the next move should be down, down a lot.