[MO] update

Some time ago I commented for the first time on how Philip Morris was borrowing money to goose its stock price.  The implication of course was that it was creating an artificial peak in stock price that would collapse at some point after the debt-driven buybacks were done.  I did not at that time model that the shares had actually peaked so no model was offered at all.

But now I see a 5th wave throwover of a rising wedge and when the top rail breaks down again I think that the target price for these debt Ponzi shares is going to be $15 at best.




To leave no doubt as to what my model is, see the zoom in below.  I model that we are working on C of  a deep vee 2nd.  Shorts should hold off until 5 wave of 2 of C complete and then pile in short with stops just above the last peak because if this model is wrong then the old peak will be taken out but if this is a deep vee 2 as I think it to be then the old peak will hold and the reversal will be dramatic.

Soon I think we will be hearing about how the younger generation is not smoking so much anymore.  A good part of this will in fact be due to the high cost of cigarettes which apparently ranges from $5 to $14 depending on the state.  The boomers who are hooked and who can afford it are now dying off at an exponential rate and when they are gone there will be a collapse in MO profits.