Start buying [PBR] again.

My last major bottom call on PBR was in fact a major bottom but it was the bottom of the 3rd and not the 5th.  The backlink chart recognized this and provided a few potential 5th wave finish up models per below.

 

Zooming in on just the 5th wave of the above, the shares were at 5.16 with the red and green paths pointing to the very low $4 range.



Below is the current snapshot which appears to have taken the lime green path above.   I would like to see one more final wave down touch that falling cyan line which is the line intersecting 1 and 3 of the larger count.



The higher level zoom out count is shown below in log scale.  It shows you where the cyan line in the model above came from.  The chart could find a bottom right here but I think it will swoon with the DJIA move down below 15300.




I think it is no coincidence that gold and miners have bottoming chart at the same time drillers and oil do.  What's next, natural gas, that most hated of useless commodities even though everyone and their dog loves to use it?

Natural gas plays have gotten majorly hosed and I will be talking about a few of them in the not distant future.