Hot Pick Of The Day

[Runner]

NB, notice KBH hit 2nd degree target

[ninner]

Swn

does anyone have an opinion on SWN

[New-born baby]

Tweezer

NB, notice KBH hit 2nd degree target

Runner,
As always,thanks for posting. Please explain to us what a tweezer is.
Also, please give to us your Elliott Wave Theory view of KBH's future.
I am a Dow Theorist, and unlike you and Spike, have no Elliott Wave background to draw from.

Thanks!

[Runner]

NB, here is my take off the weekly using EW and channels..Often the EW channels will give an indication to where a wave might end. Note stil learning EW and this does take some time and study...

Link on tweezer top/bottoms http://www.investmentresearchgroup.com/page5.html




KBH daily:

[New-born baby]

Bmhc

Here's my take on BMHC. Dow Theory says "lower prices." IT targets $63 as the expected low. The chart also points to a previous "market system low" that may soon be retested. That ($63) would probably be an excellent buy point. Until then, she's shorting material.

[New-born baby]

NB, here is my take off the weekly using EW and channels..Often the EW channels will give an indication to where a wave might end. Note stil learning EW and this does take some time and study...

Link on tweezer top/bottoms http://www.investmentresearchgroup.com/page5.html




KBH daily:

If I look at your KBH daily chart correctly, she's due for the "b" correction starting Monday morning. . . . nice way to start the week . . . .

[Runner]

NB, a “b” wave move would be one that would move price upward. Now assuming that the “a” is complete. When using EW one of the most difficult things is reading the corrective process correctly.
Corrective patterns will fall into one of these 4 main categories:
Zigzag
Flat
Triangle
Combination
within each there are different patterns that will form. The tough part is figuring out which one it is.

[Runner]

My 2nd degree downward target of 71.66 was where I thought the “a” would complete. Now to confuse you this was taken from a 60 min chart. I like to enter a 3 or “c” move up. If this charting is correct then once a MSH is formed at the top of “b” then I can now plot my upward price target. Also note that depending of the correction “c” may drop below the “a”.
I get the best EW read on KBH off the weekly chart and not all charts will be clear as to what is going on as far as EW. I will also look the sector chart and see what it is doing as well. I think the sector chart for housing is in an “a” also. Correction type thus far was “a sharp”, pullback.

For now as far as longer time frame I'm bullish down to the lower channel off the weekly chart.

[Runner]

This is an example of how difficult EW corrective reading can become. This is a weekly chart of $INDU. Also note the contracting triangle. Now the portion I did not lable could be what is known as a flat. This would confuse things even more because the count would then become a,b,c,d,e,...lol

In a Bull market the "e" in the flat would hit the lower channel and bounce up.

[New-born baby]

Thank you, Runner

Yes, I know EW is hard to learn. That's why I haven't tried as of yet. But it is on my list of "to do", so maybe I'll get around to it.

[Runner]

NB one awesome study book is “Elliott wave Principle” by Frost and Prechter. Not an easy read, but they do lay it out. Maybe I’ll know enough to be dangerous in a few years.

[New-born baby]

You are dangerous now

NB one awesome study book is “Elliott wave Principle” by Frost and Prechter. Not an easy read, but they do lay it out. Maybe I’ll know enough to be dangerous in a few years.

Runner,
You are dangerous now, my friend!

[Runner]

I know because most that look at my charts must be wondering what the heck is he trying to show me..lol with these MSH’s, MSL’s, price time boxes and fib’s. Anyway this is the only way I know how to do things and hey if it works who cares right?

[New-born baby]

Genius

I know because most that look at my charts must be wondering what the heck is he trying to show me..lol with these MSH’s, MSL’s, price time boxes and fib’s. Anyway this is the only way I know how to do things and hey if it works who cares right?

From here, it looks like you know very well what you are doing! That MCD pick was awesome.

Speaking of the devil . . . .
did you see Old MacDonald take a huge hit Friday? Gapped down just like she gapped up.

Hey, Spike hasn't posted his ascending triangle of the week just yet. How about you? Got some play you'd like to share?

[Runner]

NB, stalking VPHM for a possible DT. I caught it Friday and will see if I can play it tomorrow. I’m not opening any swings for now until I get a clear pic of direction.