China Kangtai Cactus Bio-Tech Inc (fka CKGT)

[stillstephen]

Good job on CREG. I really hoped you would. The risk is clearly to the downside there and I maintain my call. It's the polar opposite of CKGT's chart in terms of divergence, however the volume is strong so we'll see what happens.

CKGT: In EWT 4th waves usually retrace 38.2% - 50% of the preceding same degree wave. The overall structure is a little fuzzy for me, but I'm counting 1 from 0.12 to 0.91, 2 from 0.91 to 0.67, 3 from 0.67 to 3.00, and 4 from 3.00 to possibly 1.94 if it's over. I was fooled by the strong reactions on 1/26 and 2/5 into thinking that a symmetrical triangle would unfold. Instead we've gotten a descending triangle, which still meets all the criteria for a 4th wave. The 38.2% - 50% range for the low point is 1.82 to 2.10 so the low we have so far at 1.94 is perfectly reasonable. If the gap were to be filled at 1.75, it would be a little too much of a retracement for a 4th leading me to believe that either the count is wrong (that we're really in a 2nd wave right now) or we'd see a truncated 5th. Neither of those situations would make me very happy, but as always patience would prevail in that event.