When you get this close to zero it becomes increasingly more difficult to say that the low is in. However the move down (on a log-scale chart) looks a lot more like an a-b-c correction than anything else. Also since the time spent moving down is precisely equal to the time spent going up, they are vector equal but in opposite directions, we are inclined to believe that the low is now in. A break of the trend line would certainly be very helpful.
Yes , the rich are getting richer but this luxury retailer is priced a little too rich for our liking. A sell.
See blog of Aug. 3 2013. Down 12% today alone.
See previous blog. Have not looked at this one for a long time. This is a sell, probable now but certainly if it creeps a little higher towards the 62% retracement level. The most recent move, up about $44, has a well defined 5-wave structure to complete the c of B. Next should be another C leg down to new lows. Note that both the RSI and MACD have not supported the new high readings in this stock. This stock is priced to perfection with a p/e of 25X+, rather odd considering the increased competition between this county’s grocery stores. A sell.