We have been wrong on this railway, never expecting it to reach such lofty highs. But then it did drop 42% in the last year. Moreover it did it in what could be seen as a clean 5-wave sequence. Now we are doing the first a-b-c retracement of that drop which should reach the 4th wave of previous degree and /or the 62% retracement level, both at about $200 or so. By coincidence, that is also where c=a. A very nice triangle – in the b-wave position – provides the icing on this cake. We would not wait that long and get out at $185 or earlier. Then the drop continues for , at least, another hundred points towards $100 (about 60% down) or further.