[CLB] update

Here is the backlink.  Note the text I wrote there "...Either way we should begin to see a pullback soon to the $113 area.  This might hit $124 before that pullback begins."

As you can see from below, it peaked darned near $124 before pulling back to the $113 area.   That was not a bad set of calls if I do say so myself.

Then it took off again and we are now at or near wave 5 up.  So the question now is, 5 of what:  5 of C or 5 of 3.

I'm starting to think it might be the end of a C wave.  So I would be a seller here folks.  In the most positive case, it should a-b-c its way back down to $114 and then turn back up with afterburners in a 3rd of 3.  In the bearish case it will now turn down 5 waves.  But in either case, the next big move is most likely down.  I did not say it must go straight down from here.  Maybe the full motive wave is not quite complete.  So if you own it, put stops just below the recent low and don't sell until that happens.  Of course, if it moves up more, keep bumping your stops up behind it because a significant pullback is due after this monster percentage run.