F update

F apr 2011

Ford has completed its a wave correction and is now doing the b part. That should roughly retrace about 60% of the drop which is 0.6 X $5 = $3 which from $14 gives $17. After that wave c of the correction should take the stock to about $10, or a little lower. At that level the stock should be a buy for a resumption of the bull market for Ford. We shall see when and if we get there.

There is an outside possibility that the first 5 wave up sequence is not yet complete. That would imply we are now doing wave 4. Highly unlikely but if it happens it would likely be a flat or triangle wave 4, in which case there would be ample time to adjust our strategy.