HPQ - relentless decline

Even though the main indexes had a very strong up day, Hewlett Packard declined again. This is without doubt a further renewed sign of underlying severe weakness.


HPQ, daily

Summary

Primary target remains $15, I have high confidence this level will be hit within the next 3-5 weeks. The only remaining issue is whether $10 is possible later in the year.

To hit $10, we'll probably need to see the sp<1100, probably 1050/950 in the late Autumn. That of course is a great unknown, and much will be dependent upon the actions of the Bernanke.

In the meantime..$15 is coming.