SI, Siemens update.

SI june 2011 si aug 5 2011

On the left the big picture as of early June, on the right, where we are now. The drop is from $147 to $105 which is just over 28%. In this case Kon. Philips of the Netherlands (PHG) gave a solid warning that retail sales were not doing all that well weeks ago, and all though Siemens is a bit more on the industrial side of the spectrum it was bound to feel the pinch as well. Much of the drop is just in the last few days and looks like a water fall.

This is an excellent example why one should be suspicious of triangles , particularly irregular ones (where the second leg rise above the beginning), because even if it is yellow and quacks, it is not necessarily a duck!