We did not get the $5 so far. It would not be surprising if we do seeing that it is month end. Nevertheless we would sell on the open not being sure what degree of wave we are looking at. Preservation of principal should be everything.
Year: 2011
PBN update
Obviously a very bad call on my part ;
Perhaps my error was to assume that wave 5 came from a small triangle. There may not be one at all and now 5 is equal to 1. This should be it. Remember that is why we use stops.
TCW, Triacan Well Services update from Jan.
The call was for around $23+ around Feb.-March. It stayed suspended much longer and even briefly spiked to $26, but we are going down fast and have already hit $15 . This should continue un till we get to $10 where a pause is possible.
PGF, Pengrowth update from Jan.
The Jan 21 chart is on the left , today’s on the right. It is down 30%. Just as with the TSE, this one could just keep dropping or pause for a month or so and then continue down. In the end it should go below $6.