TPX, Tempur-Pedic Intl. update

TPX dec 2012

Back on June 7, we opined that this stock was a buy for a rebound of $10 to $15. The low that day had been $21.05, a week or two later it bettered that by 35 cents by hitting $20.70 It opened the next day at $22.84 so for score keeping purposes we will assume that you bought it at that level. $12.5 higher (the midpoint or average of $10 to $15) is at $35.34, below the high of $36.11, good for a gain of 55% in 3 months.

I have no idea where it goes from here but I do suspect that we are about to complete a b-wave in a a-b- correction that could close the entire gap by going to about $42. Not terrible sure about that so the step-aside recommendation fits best, for the moment.