Monday, June 1, 2009


Well, the top was not on May 8th.  There are many stocks that have a triangle appearance from May 8 to 28th, so for many of those, the current upswing is a terminating 5th wave in which the upswing should only last a week or so.  For others, May was simply a b wave and therefore there could be another run as big as the leg since March 9th.  For the stocks that I had mentioned previously.  TWM should go down to 35-40,  IBM up to 110, possibly 115, QCOM at least 46 and RIMM at least 90.  The trend is still up, so the bear is off the table for now.