CM Jan 11. 2011.

Last year the target for CM was slightly above where we are now, say around $78 or so. This is where a 5th wave diagonal started its trip down and that is a normal retracement level . Also it is in the 50 to 60% normal rebound level. We have done this so I would be a seller, especially since the much better run Royal has already almost retraced its entire drop.

CM Jan 11 2010

RY Jan 11, 2011

The successful long CM short RY trades simple may not work anymore.