The usual then, July 4th, and now charts;

In just two weeks this one has shot up as expected. You are basically up 50%, from below $4 to above $6. The target is $6.90 but we are inclined to say thank you and move on.

The usual then – Jan 29, 2013 – and now charts;

The stock hit a low precisely as predicted, just under $4 at $3.83 exactly where the cross is. You are up about 25% now and the potential is there for a rise to $6.90 or more.  For the moment at least, it looks like a standard a-b-c correction to a 4th wave of previous degree. However we are not sure what degree at this point in time. At $6.90 the gain is about 50%.

$5.25 should be in the cards, good for 25+% gain. But that is only the first 4th wave as, at a different degree there is another one at about $7.25. Normally you get an a-b-c correction in the worst case scenario. So far there is but one single leg so higher levels are a distinct possibility. Up to you to resolve the bird in the hand etc. problem.

See our Jan. 29 blog. quote;

All trend lines come together where the cross is , about $4, which also coincides with a possible 4th wave of previous degree. The stock yields about 11% and it used to be one of the most desired income trusts. On balance a buy.     unquote.

Well we got it wrong again. The actual low was at $3.93. In any event if you survived the 7 cents then you are now up almost 20%. Be patient as the stock should go to $5 as a minimum, good for 25%. Perhaps even $7.15, but that is dreaming.