NKO, update

nko aug 14 2012

You should have been out somewhere above $19.25 and below $20.75, and if that did not work you should have been stopped out at $18. Lets just call it 50% (from $13) up in a very short period of time.

The actual was at $11.50 so it travelled about $9.25 so it has already lost more than 60% of that gain. It could well be a buy again at around these levels but for the moment we would prefer the sidelines as this could be a 5-wave structure just as easily as a-b-c correction to an otherwise upward trend. Principled investors investors could buy here with a tight stop.