STJ St. Jude Medical, update

stj feb 2012

Comments from July and October last year, see previous blogs.

The stock did exactly that. The low was at $33.54. My (educated) guess is that the first wave is complete and that we are doing 2 right now. This wave 2 could, repeat could, continue to say $44, the apex of a triangle. I am sure some of you will think that this count cannot be correct as wave 3 looks to be the shortest. However if you look carefully it will become clear that it is indeed the longest. Stay out! By the way, the is still well above 30 according to Bigcharts.

The target of “say” $44, made 4 months earlier was , of course, wrong by $0.26. That really makes you wonder if EW works. Next is wave 3 down to below $25.