F, Ford update

f sept 2 2013

Ford did precisely as expected a month ago (see that blog), completing the b-wave in a small a-b-c wave 2 and starting its descent. For the moment that is a preliminary conclusion but it definitely looks promising. We are now in the first leg of wave c down which should take at least a year but perhaps a lot more and take the stock back to below $8 and , more likely, in the vicinity of $5 or lower. Such a deep retracement is perfectly normal for a wave 2. Once wave c is complete, having traced out 5 sub waves, Ford will be a buy again. Don’t wait for it!