Click on the left blog to enlarge. In reality it did stop at about $19 and did bounce about $10 ($9 to be exact), and it did prove to be a 4th wave. The whole thing does not channel particularly well but that may be due to the authorities randomly throwing in a QE2 or the twist or whatever. Presently, as with NAV, it looks like we are starting the 4th wave of 5 of C. A plausible target would be about $16 but one has to be careful not to hop on the bandwagon too early as so called extensions can ruin the fun real quickly.