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Wednesday, September 23, 2009

Four Horsemen of Tech

Apple, Rim, Google and Amazon look finished. Completed wave patterns on all of them. I was looking for highs on each and every one and it didn't disappoint. Shooting stars on each.

Apple nearly hit $190. Google hit that magical $500 mark. Amazon kicked it into high gear these last few days and squeaked out a new high by a mere .10 cents! Rim? Yup. Lets buy some Rim at $86 again. Sure.

But more than that they all completed valid wave patterns and all finished up with 5 wave moves. You can see them if you look. I am too lazy to label all the charts but believe me all peaks are in on a clean 5th wave of likely C waves of likely double or triple zigzag patterns. Look closely you can see them.

A valid double or triple zigzag pattern requires new highs for the end of the zgizag. I didn't think amazon or rim would make it these last few weeks but they came through in the nick of time. How convenient.

P/E's of 61 (amzn), 32 (aapl), 34 (goog) and 24 (rimm) in the middle of a bearish consumer depression. Yes even buying gadgets will wane...And don't we already have enough of them anyways?

I know I do.

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