FM First Quantum

fm june 2011

This is a repeat of an earlier blog in which we showed the B-wave. This Google chart shows that scenario even better. B waves are counter-trend rallies and therefore 3-wave affaires. Counter-intuitively they can, and often do, climb above the corresponding A wave, but usually by a relatively small margin (less than 25% or so. Once complete the breakdown starts, usually to below the low of the A wave. You do not want to own this when that happens.