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The Faraj List of Exploding Stocks Part 3.04 (FAR3)
Cat - Thu, 01 Jan 04 :
Chestnuts - re PTI
my reading is Wave 1 of higher degree from begining May 2003 to beg. Sept 2003.
Wave 2 (ABC reaction) from beg. Sept to 20th Nov 2003.
wave i of Wave 3 kicked off then, and it might have just ended.
In which case a small wave ii (abc correction) could test the 50p level, but then wave iii of Wave 3 could blast off and my guess would be to 80p minimum as this is likely to be a powerful move being a iii of 3.
The 3rd wave is always the longest and most powerful wave of any impulsive move.
Looking at the 10 year chart, wave 3 itself could easily end up at the £2 level.
On this basis - plus a feeling that the phase II work on the angiotensin immunotherapetic will move on significantly quite soon - I'm staying fully invested.
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