CL , update

cl sept 17 2011

Colgate is doing every possible trick in the book to delay the inevitable. Even if we are a few dollars higher the story just becomes even more compelling. From the lows of $74 the stock has traced out a near perfect expanding diagonal triangle, always a 5th wave and always retraced entirely. There is even alternation between 2 and 4 as well a some degree of overlap, something that cannot occur other than in these specific structures. The puts should be even cheaper now. This favors the 4-5, 4-5 alternative interpretation  discussed in the previous blog.