This Yahoo chart goes back to 1962, not far enough to make a reliable guess at what the count might be. In black we show the possibility that the drop from $75 to $20 was, in fact, a completed A-B-C correction reducing the value of this stock by about 75%, bearish enough to be a bear market by any standard. In purple we show the other alternative which is a little more in synch with the rest of the market. It is 5 waves down for wave A in a zig-zag, followed by a B-wave of about 60% and C having started with waves 1 and 2 (and another 1-2 in the more detailed chart). The two counts are, by the way, not necessarily mutually exclusive if instead of a zig-zag one looks for a double zig-zag. For the moment we prefer the purple scenario if for no other reason that it suits thisĀ aristocratically named stock a little better.
Wave 3 has just started and should become a bit more decisive soon.