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There are other factors regarding inflation too...Let's say food prices skyrocket...but you don't eat much...OK...Housing escalates...But you have owned your home for 20 years...Great...Gas takes off...But you work from home...No Problem...Water takes off...Now we are all in trouble!!!
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OK, it didn't give the pivot entry on Friday. But today I notice it came back to the intraday pivot of 31.52 (actually 31.28 is lod), and then finished +0.70 at eod. Didn't take it myself, but anyone who has, my stop would now be to b/e at 31.52.Originally posted by spikefaderLye; here's PARL food for thought:
Today reveals a channel turn up after that 'c' correction.
Pretty good volume and nice bullish candle today.
That channel turn up is the green light for chasing the pivot 30.54 tomorrow. A stop under today's low is just over 4% risk. Initial conservative channel target is 39.00 and rising on the daily so that's roughly 28% reward, which makes the r/r 5.79, and if price movement works nicely in a wave formation, you'd be re retargeting to increase that 28%.
Strongly recommend stop to even after the first intraday higher high, since that larger weekly count is a 5 completion. That's what I'll be doin' anyway
PARL looking real good
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Mdrx
Spike If you e do you think have any time where MDRX Is headed?Ray LongComment
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Kbh
Ya'll was right. Bear flag forming. I had to go to chart school to review.
That lower volume is the tip off. If it doesn't break below $72 in the next 15 trading sessions, then the pattern is invalid.
If it falls below $72, it should retest the $72 mark, and fall to $61.Comment
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Eenc
EENC announced that quarterly income FELL 42%! With oil prices $67 a barrell, they couldn't figure out how to make money.
Great management!Last edited by New-born baby; 08-16-2005, 10:11 AM.Comment
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Originally posted by New-born baby
It's not the prettiest SHS on the daily, but price action is weak after that lower channel hit and expansion from the top. If it drops to 22.10 there goes the neckline. There's another channel short on the weekly this week too (candle is still open til Fri naturally). SHS target is 18.00.
Thomrich, you got out at a great price!Comment
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First thing to note is the upper weekly channel tag that signals profit-taking at 18.68. And now the daily is bearish.Originally posted by RL
EDIT: A bullish break of the triangle would put me neutral. If it beats the gap resistance at high 17s and trades new highs to invalidates that shs then I'd be bullish on it.
Last edited by spikefader; 08-16-2005, 10:37 AM.Comment
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KBH could well go to 76 and still be in the flag pattern. Anyone long and looking for a resistance exit, optimists should be exiting at 76 and wait to see how the flag is resolved. Thus far today, no real bearish pattern intraday. It's at R1 with potential double top area of 74.75. Pessimistic and nervous longs should exit at 74.75.Originally posted by New-born babyComment
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Spike don't know how to thank you enough for your advice.Ray LongComment
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Spike,Originally posted by spikefader
Here's my IB chart on today's action thus far (10:09 CST).
Down day for KBH, IMO.Comment
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Greetings,
Yes EENC,too good to be true,POR over 80%,this could be the quarter they dont raise dist. Swan dive to the street.
BTW PTF went ex today and is selling,bid in at 16.70,a little above the 50dma,and looks like a lower channel touch.
cordially Tom
What happened to No Shady Lady?Comment
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neckline
There goes the neckline. $22.01Originally posted by spikefaderComment
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Originally posted by New-born babySpike,
Here's my IB chart on today's action thus far (10:09 CST).
Down day for KBH, IMO. OK. You are definately more flexible than I with some patterns, but hey, that's cool. And yep, you may prove correct on the down day. My point was only that the shape of that flag on the daily leaves room for a move as high as 76 and it still wouldn't break the pattern. Typically, while price IS in a flag, it's choppy and seeks both the bottom and top of the flag or pennant. KBH is in really tough waters right now. It's still above the intraday pivot of 73.81 and don't be surprised if it runs to test the top edge of the flag. I see it often, and when I think about that type of movement, I consider what does it mean from an emotional standpoint and how does it contribute to any volatile downside should the flag breakout occur. Well, should price start to act bullishly and rise to 76, you've got all the emotional nuts that sold fearful of the bearish nature of the recent drop, then maybe bought back in on the show of strength after the gap support held, or the channel long, or whatever reason, and those emotional holders are late to that party too, and when it gets sold at 76, or the top edge of the pennant and the flag breakdown occurs, all that money flow that came in on strength could well provide the selling fuel that sends price down with volatility, thus self-fulfilling the pattern expectation of a volatile bear flag. I don't know, it's all just speculation, perhaps with some truth in it, but I guess the bottom line is the pattern is there, and the top limits of that pattern I see to be 76 for a flag, or 75 for a pennant. Sure, it may break down this second and never get up that high, but I though I'd throw these thoughts out there anyway.
By the way, intraday I don't see that descending triangle so much as an ugly SHS, but I didn't see it easily and it's ugly and I'd rather ignore it than try to make a square fit into a round hole. I like more pure patterns, and in their absence I say to myself there isn't one.
Best to ya.Comment
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