Wednesday, August 26, 2015

[PBR] update

In the backlink I was looking for an inclining double bottom that didn't happen.  Thus we know it was in fact a motive move.

Because of this, I now count the recent flash crash as 3 of 5 and then the gap fill is 4 of 5.  If this goes above green 4, this model is busted too.  But one thing I like about this is termination into the end of the month. I have this as a potential bottoming point for other commodity plays.

Amazingly, the market cap of PBR is still 32bn even after this kind of ass kicking.  I'm just wondering when the DJIA, S+P500 and $COMPX play catch down to the massive deflation that has hit commodities and companies associated with them.

No comments:

Twitter Delicious Facebook Digg Stumbleupon Favorites More