Fortuna seems to be making a triangle, but it could just as easily be a B wave as it is not clearly in a wave 4 position. We will keep an eye on it.
Year: 2011
RIC, Richmont Mines
For those that scoff at EW or any other form of “pattern recognition” this is just a little jewel. An absolutely perfect parallelogram , presumable wave 4 of whatever degree. Wave 5 could be complete so be careful before you back up the truck.
PHM , Pulte Homes
Homebuilders have been doing just great the last few years. Pulte is right up there with the big boys. Just as in the case of Sino-forest, we know absolutely nothing about this company, and frankly we do not care. This is a buy, plain and simple and the reason will become evident in due time. A full circle bubble AND a nice triangle. We should go back at least to $7/8.Definitely this thing can go a lot higher but one simple should not speculate, take the low hanging fruit and let someone else worry about the rest.
By the way EK should make it to $3.50 tomorrow and if RIM gets another $ or two, sell.
EK, Eastman Kodak
Just a reminder that EK is reaching our $3.50 target. It may go (much) higher but we would leave that for the next guy.