CMI, Cummings update

See our most recent blog. Today we are roughly twenty dollars lower!

cmi aug 2 2014

All this could also be a “wedge” 5th wave. Already ( on the semi-log chart!)we have a break of the lower trendline. Insignificant at this point but if it gets bigger from here it certainly starts to look very bad. The initial target, as always is at the base, in this case around $80 which would constitute a 50% drop from the peak. The question really is not why this might happen. It is more why did this Diesel engine maker ever get to $161.