MS, Morgan Stanley update

ms  oct 10 2012

We have liked MS for quite some time, particularly earlier this year when the stock hit the line connecting the lows over the past 5 years. We are now up about $6 from those levels (+- 50%) . If this is an A-B-C from 2007 on, see previous blogs as that is not necessarily the case, then we should still get a new low which, in turn, would imply that we are in a 4th wave, probable a triangle as these structures normally break the trend lines. A d and e seem to still be required so it may take a little time but the stock probable will not go much higher. We would sell here.