Month: January 2016

AC, Air Canada update

Hamilton

The usual, then 4th of June, 2015, and now charts;

ac june 6 2015AC jan 14 2016

We hit the top right to the day, warning that this stock’s value would be cut in half (at least). In little more than one half of a year the stock fell from $15.07 to a low of $8. There is obviously more to go as the “wedge” should be retraced in its entirety at about $5.

The RSI is already well into oversold territory so there are various ways that this might be accomplished by making the correction more complex, but in the mean time you have saved yourself a lot of money already by exiting the stock.

TSX update

Hamilton

The usual then, Nov. 12 2015, and now charts;

tsx nov 12 2015 stsx jan 13 2016

Yes, I do love blowing my own horn. But then I ask, where else did you get a prediction of four thousand points down? So far at least, we are right on schedule. If correct, we are now in a third wave, that will become the so-called point of recognition. Most often that is some sort of mid-point so we still have a way to go!

Just for clarity, we expect a low below the “great recession” low, possible by a very healthy margin.

SW, Sierra Wireless

Hamilton

sw jan 13 2016

After an extended wave 5 into the peak of $57, the stock turned around and fell 67% or so right into the 4th wave of previous degree. It does so in a very nice 5 wave move so a rebound to $35/$40 is a distinct possibility. After that a second 5-wave down should follow.

This particular stock was brought to our attention by a good friend who normally scans the horizons for other things from his yacht at sea.