CL, ColgatePalmolive.

In our view this stock is the ultimate barometer for what might happen in the US. The end point has been a little elusive, a few months ago at around $89 or so it looked pretty well complete. Then it went for a $10 quick round-trip, causing overlap that made it look like it was done, only to shoot back up to new highs. Here is the July chart again;

cl july 2011

Since then the action was fast and furious;


So since that July high this stock has travelled the better part of $20. At $90 to $91 I have to assume that we are topping.