AMGN update

amgn oct 2012

amgn oct 2012 s

We did quite nicely with this stock (see previous blogs). We got out too early with a 50% gain and then warned that it had a little higher to go. Well here it is about $5 higher at $90 AND it has a nice 5 wave sequence up in which wave 5 appears to be the extended one having equalled  waves 1 and 3 combined (it is a semi-log chart!). It looks like it is well done, however , being so close to an even $100 makes this stock very susceptible to the Mnt. Everest effect as the momentum players give it an extra nudge. A sell between here and $100 but with a strong preference for now.