G update

g june 21 2013

Precisely a year ago we suggested $20 as an ultimate target for this stock. We had a different count then (see previous blogs). This is a better count (we think) and also simpler, just an A-B-C  double zig-zag down for a full correction. From $53.79 to $24.58 is 54.3%. It could drop a little further but the C wave looks pretty well complete within, say, a single dollar. This is a buy with the potential of $6/$12 to the upside. Both the RSI and MACD support this.

G 21 JUNE 2013 B

In the big picture (using a slightly different count) we have a huge 5-6 year flat correction that could be (almost) complete at this point.

g 21 june 2013 2

An ideal target would be in the vicinity of $22. Any rebound from there would be correspondingly larger than indicated above.  The big risk here appears to be that of missing the boat entirely.