It has always been our contention that Colgate is the real canary in the coal mine. We got it wrong the other day thinking it was game over, instead the stock climbed almost two bucks. But then today it reversed down almost four dollars. This happens not surprisingly at a point in time where the C wave is precisely equal to the A wave of the larger counter trend B – wave rally. Measure it yourself if you doubt it.
Today’s almost $4 drop, unheard of for this blue-chip stock, tells us a lot. It tells us that not only is the Fed. incompetent but, and this is the real revelation at this time, it is impotent, plain and simple. Perhaps the market and the moronic advisors that serve it, is catching on.
Concerning Cl, it should drop to $70 for starters, a lot lower after that .