So it looks now as if the triangle is complete. See our blog of a fortnight ago. If this is the correct interpretation then $28 or $21 is a real possibility. This would be negated by a rise to $44 or above. This triangle as a 4th wave “fits” the bigger picture. Judging by where the apex of this triangle is, a low might occur sometime in the month of August.
The then, Aug. 2014, and now charts as usual;
So you saved yourself half your money or a little more, but we are still not sure what count is correct so we would go neutral here with a downside bias as we prefer the B-wave count. Finning is big in the Alberta area and all over the west. More pain is definitely possible but the short-term chart is decidedly unhelpful.
Note; If it was a B-wave then we are now in C which continues as a 5-wave structure; that is not visible on short-term chart. If on the other hand the latest top is wave 5, you would now expect an a-b-c down. The a could be complete so a sizable b could be next.
Then, Jan 11, 2016, a buy. Today, maybe a sell. See previous two blogs. You could have been up almost 60% in five weeks. We simple do not know if it will go higher immediately or if there still is a 5th wave to come. Play it safe, as the saying goes, nobody has ever lost money by making money.
A former Deutsche Bank AG analyst once ranked among the best in the U.S. will pay a $100,000 penalty and be banned from the securities industry for a year to settle a regulator’s claims that he issued a buy recommendation at odds with his personal opinion.
XYZ recommended buying shares of discount retailer Big Lots Inc. in a March 29, 2012, report while telling colleagues internally that he didn’t downgrade the company because he wanted to maintain his relationship with its management, the Securities and Exchange Commission said in a statement Wednesday. XYZ agreed to resolve the SEC’s allegations without admitting or denying wrongdoing.
“When research analysts tell clients to buy or sell a particular security, the rules require them to actually mean what they say,” Andrew J. Ceresney, head of the SEC’s enforcement division, said in the statement. “Analysts simply cannot express one view publicly and the opposite view privately.”
XYZ, who was named the top-ranked department store analyst in 2012 by business-to-business publisher Institutional Investor, became concerned over cautious comments Big Lots executives made the day before his report came out, according to the SEC. Despite those concerns, the agency said, he maintained his “buy” rating and told colleagues on an internal call that “we just had them in town, so it’s not kosher to downgrade on the heels of something like that.”