MX Methanex update

mx jan 2012 bmx jan 2011

The big chart is no different from when we recommended getting out right at the top. See alao previous blogs to get a better idea of how it is supposed to go down. Going to the short-term chart, we completed (arguable) a 5-wave first wave down in early October. Since then the stock has been working on tracing out a wave 2 a-b-c, shown here stylized with c=a. We do not need to go that far, just a tick above $27 will do the trick and even that is not necessarily required.  Time to get out as wave 3 will decimate this stock