IFF, update

IFF jul 2012

Exactly a year ago we suggested that this was a sell and even though , at certain points, it was down by almost 20%, it has done essentially nothing except, perhaps, frustrate both bulls and bears. The 1-2, 1-2 count, which includes a failure for the top, is little more than a wild guess. One can easily substitute a simple a-b- and come up with only a single 1-2. the important thing is that the stock has been range bound for more than two years now,so the odds still favour the downside. (see previous blog).