TLM, Talisman Energy

tlm july 2011

Talisman is a good example of a B-wave correction. In this particular case there is no mistaking the 3-wave nature of the correction from the Nov. 2008 lows. This one hit the lows early compared to most other stocks and perhaps it started the trek down earlier as well. There are still possible counts why this stock does not have to go straight down as in a “flat” , the most likely pattern. We could be forming a huge triangle for instance, but until proven otherwise , it is fair to assume that this stock will drop to just below $8.