TCK.B Teck Resources.

   tck 2011 3

Back in January as the stock peaked at about $65, we came up with this chart for TCK. The old highs had been exceeded and the whole things looked like and smelled like a B-wave. If not ,it would be a 5 wave sequence.  In both cases the stock should drop to around $32 initially. Here is where it is today.TCK.b sept 2011

We are at $35, a loss of $30 on $65 or about 46%. Look for that to become 50% at it drops further to the level of the B wave in the larger B-wave rally. Note that this stock was on most advisors buy list. I do not believe there was a 5-wave sequence, but the jury is still out. If indeed this was a large B-wave rally instead the stock could make new lows even if it pauses at around $32.!