CF, Canaccord Financial Inc.

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CF is one of a handful of independent investment-dealers, merchant bank type of outfit still remaining. Sprott Inc, that went public about 4 years ago is another one and, despite their high exposure to gold and other such end-of-the- products are still trading 20% under their issue price. CF has a nicer cleaner chart, it is the one we have seen a thousand times now; a big down-leg, followed by an A-B- B-wave as a retracement. Next is the next down-leg, already well advanced. A further drop to about $8 is the first target. Ultimately look for a price below $3.