PGF, Pengrowth update

pgf mar 1 2013

See our Jan. 29 blog. quote;

All trend lines come together where the cross is , about $4, which also coincides with a possible 4th wave of previous degree. The stock yields about 11% and it used to be one of the most desired income trusts. On balance a buy.     unquote.

Well we got it wrong again. The actual low was at $3.93. In any event if you survived the 7 cents then you are now up almost 20%. Be patient as the stock should go to $5 as a minimum, good for 25%. Perhaps even $7.15, but that is dreaming.