Contrary to earlier blogs, DGC may, repeat may, need another leg down. This last move from about $13 to $3 can be viewed just as easily as a 3 wave structure as a 5 wave structure. We will know if it manages to break $7, or , on the other side, about $4.50
This is from the Heritage Foundation. If you are handy and looking for work you may want to get in the export business. There are a lot of fishing huts that are better equipped than this that you can renovate for a couple of hundred bucks and export to the US. Fortunes can be made.
We got this one completely wrong. It keeps growing through acquisitions and the philosophy , as stated by the CEO, is to aim high if that is where you want to go. And they do as they hope to become the 5th largest pharma company in the next few years which implies that the present capitalisation will have to move from about $40 bln. to $150 bln, no mean feat by any standards. We simple do not believe it, not just because this used to be Biovail, but because of their intangible assets;
With about $23 bln. in intangibles (goodwill if you prefer) out of a total of $28 bln. in total assets this is a disaster waiting to happen. We are not sure why it got here but probable the fact that pharma has done well lately and that Canada only has one company in that sector has a lot to do with it. No doubt it will go a little higher yet but this is a momentum play that we wouldn’t want any part of. A sell.
At 6750 the FTSE is still below the high of 6804 of May 21. In EW terms it is still possible that we have a series of 1-2s of different degrees. At the same time it does seem a little absurd to attach so much importance to 50 points! But that is just the way it is.