massive drop, page-29

Way back in Jul 2007 we saw QBE have a steep decline into the mini crash low of mid august.

We now know that had it not been for the US FED that that would have been another Oct 19/20 1987, which in fact I was expecting, because of various time periods such as 155 days from previous significant low and 55/6 days from an important high etc, just like 1987 and multiple previous tops.

Anyway, I digress. The point is that QBE soared for $25ish to $35ish in a month just as similar action took place in China stocks etc.

Late in a multi year bull market the only implication was a final blowoff move and so it was.

The obvious QBE target was simply then $35ish less $25ish suggests $15ish.

OK so trading at half a cent on one trade today seems still uncorrected on indices but more importantly the $15ish target is reached.

Just call it a minimum and other arguments can be made for lower targets, but the basics seem to have been reached.