EK , Eastman Kodak update

ek aug 17 2011

Almost a month ago we recommended EK as a buy at under $2.25. It went 50 cents lower but is now getting it’s bounce, dead or otherwise. At a larger degree (see previous blog) wave 4 is around $30, that is not what we are aiming for. We play just to harvest the certain part, or at least , the almost certain part. The wave in the above chart has 5 subdivisions, clear as daylight. The stock should then return to the level of the 4th wave, in this specific case a triangle. That level should be >$3.50 and < $4+. If you are extra safe take the lower number and you will still have gained 55%.

A return to $5.75 is not that much of a stretch,aiming for that should depend on how we get to $3.50+