RIM update

Hamilton

rim nov 22 2012 brim nov 22 2012

See also previous blogs (the index is working again thanks to the best IT team in the world!). Twice we recommended buying this stock, each time it dropped a bit the days immediately afterward so if you had acted on that you should own the stock on average at around $7.60 or so. For reasons described in those blogs this stock should go up. It is now at $10.23, up 34%. Presently $11.17 (up 47%) is within reasonable possibilities as that represents the 4th wave of wave 5 of 5, more or less a minimum expectation. Ultimately it may go a lot further but we would recommend using a stop when going into the buy-and-hold mode,

STJ, St. Jude Medical update

Hamilton

The then (July 6th, 2012 and earlier) and now charts;

stj jul 2012stj nov 21 2012

At the time there were two distinct possibilities, the purple one where the stock would go down immediately or the green one where much of wave c of wave 2 still had to develop. QEs and other simulative measures no doubt contributed to the more time consuming second option. Today we got down to almost $30 ($12 below the level in June). This looks like a third wave that may have quite a bit more to go. Apparently an FDA report was released revealing that certain cables could easily fray and jeopardize the proper functioning of a heart device. Sounds innocent enough. Going lower!

JNJ update

Hamilton

See also previous blogs;

jnj nov 2012

As expected JNJ has started to break down. Two counts are possible, one with a triangle in the middle and the other with a straightforward (running) flat. Both roads lead to Rome and it is purely academic which is the correct one. If one uses one’s imagination a 5th wave could even be argued with identical consequences. The double top is icing on the cake. A sell.