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.
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