HPQ update

hpq nov 22 2012hpq nov 22 2012 s

We are there as expected, as close to $11 as you could wish for. The count on the small chart is unclear but on the big chart it is a nice 5 wave sequence  even if the waves 2 and 4 do NOT alternate , as normally they do. In any event we have repeated the tech crash and the company is thoroughly disliked by everyone after throwing away 8 bln. on an acquisition (for a second time). No new products in the pipeline and 3 CEOs in as many years. There is absolutely nothing to like about these guys/girls but that may just be the right moment to tip-toe into the waters.

Accumulate shares peace meal , use stops just below your price or play this one with options.