CL Jan 27, 2010. Colgate Palmolive.

This stock is as pure as the soap etc. that it sells. It is a defensive stock par excellence. The p/e at about 20 and yield of 2% are not bad for this kind of blue chip. Evenso the chart is downright ugly. See below.

 CL Jan 27 2010 cl Jan 2010 2

We did catch the triangle, if that is what it is, for a $20 ride , but after that left it alone. Looking at it now it looks to be right at the top of its trend line, perhaps 5-waves up from way back when, 1971 or so. This one could easily return to about $50, in any case the chances of going much higher are pretty slim. If you own it, it is a sell.