Hot Pick Of The Day

[New-born baby]

Bmhc

BMHC is still building a nice flat base from which to pop higher. The money is still flowing into the stock despite the small decline in price. The volume has dried up (positive news), and there is positive divergence with the CMF and the price action. I am still bullish on this one.

[New-born baby]

HOV 19 Sept action

Spike, Runner, et al,

Here's today's action with HOV. Nice drop. Now it touched a lower channel. That channel was a minor channel, and was an expanding lower channel. In my mind, that doesn't signal a long. The chart is quite bearish. Is that your view?

[Runner]

Here is one hard to believe. I got target about 41.00 on it. Now this was plotted off internal trendline and so the plotting of this can be desired by who ever plots it!!

Not to say HOV will hit target

[New-born baby]

HOV's target

Here is one hard to believe. I got target about 41.00 on it. Now this was plotted off internal trendline and so the plotting of this can be desired by who ever plots it!!

Not to say HOV will hit target

Spike and I target $39.00, so we can believe your $41 target. I sold the $55 naked calls today at $5.30. I could have sold them for $5.40 if I were a little quicker.
We shall see how it performs tomorrow. The builder stocks have lowered their forecasts for next year (according to Crane's Chicago Business Report).

[ForeverInvesting]

HOV: Point & Figure Chart

Here is the current Point & Figure Chart using traditional box size price objective method. The blue line is the bullish support line. According to Point & Figure methodology, the Point & Figure Chart is positive until the bullish support line is broken. HOV may bounce at the bullish support line which is at $50. If HOV is truly bearish, then it will bounce at the bullish support line and rally to no higher than around $55, turn back down and violate bullish support line thereby turning trend of the Point Figure Chart negative eventually meeting the price objective.



Here is the current Point & Figure Chart using average true range of the last 20 bars (in this case the last 20 days) to calculate the price objective method.

[New-born baby]

Forever Thanks

Thanks, Forever, for the point and figure view!

[Peter Hansen]

New Born

New Born thanx for your analysis of various stox......it is quite a learning experience for me. Just found these 3 MEE, DPTR and JLG .all have good growth rates and nice charts......but my pick is still MEE........What do you say?

[Peter Hansen]

HOV Not For ME

Spike and I target $39.00, so we can believe your $41 target. I sold the $55 naked calls today at $5.30. I could have sold them for $5.40 if I were a little quicker.
We shall see how it performs tomorrow. The builder stocks have lowered their forecasts for next year (according to Crane's Chicago Business Report).

Looking at the charts....I don't think HOV is a buy right now.....but only my opinion !

[billyjoe]

New-born,
10,827 shares of BMHC now worth $961,022.71.

billyjoe

[Websman]

New-born,
10,827 shares of BMHC now worth $961,022.71.

billyjoe

Let's see...That's a loss of $38,977.29. That would buy a cruise on the Mediterranean plus a lot of drinks.

[tokyojoeskid]

nb

Hey NB,

I was just wondering if you could give me your read on USG. It looks like it is trading at a support right now but if it trends lower and breaks through the middle support line(dont know the technical term), the next stop is the 50day at 55. After that the next stop is 50 touching the lower channel support. RSI doesnt look good and the heavy volume sell off today also worries me.

Thanks
Tjk

[New-born baby]

Bail

Hey NB,

I was just wondering if you could give me your read on USG. It looks like it is trading at a support right now but if it trends lower and breaks through the middle support line(dont know the technical term), the next stop is the 50day at 55. After that the next stop is 50 touching the lower channel support. RSI doesnt look good and the heavy volume sell off today also worries me.

Thanks
Tjk

Toyko,
Do you own this one? If so, can you get out now with a profit? I'd strongly consider it. In fact if it were mine, and I was watching it today, I would have left Dodge early this morning.

Your read is correct: the thing had a beautiful run, but it has now run out of gas. Today's action: big red volume stick and a $4.32 drop. UGH!
Yes, it landed on the best support on the chart, but even that support is thin. It usually takes about one hammering, but the second blow to support will shatter it. Every indicator is negative and headed South. This is no time to be a hero and enter, in my scheme of things.

Here's the chart:

[New-born baby]

MEE, etc

New Born thanx for your analysis of various stox......it is quite a learning experience for me. Just found these 3 MEE, DPTR and JLG .all have good growth rates and nice charts......but my pick is still MEE........What do you say?

MEE: has had a healthy bull run. Was superheated on Monday, so you had to
expect a pullback on Tuesday, didn't you? I am not good at counting the waves. I think this one is on its 5th wave up, and looking for an ABC correction. (Either that, or it just finished the ABC correction to the 5th, and is starting on a new #1). Energy is so hot right now, I can't see it falling down too far. Looks like a healthy stock to me. It would be too late for me to enter--too extended--but if you were in at a good price, you probably have more gas left. Spike would know more.

I will say that once it tags the upper channel, you are supposed to take profits and re-enter at a lower channel. You'll note that yesterday's candle finished within the channel. And today's candle opened higher, but dropped back within the channel.

JLG: Spike had a set up for this one today, but it failed with Greenspan's announcement. Have to wait for another setup. And DPTR: another extended looking stock. Too far gone for my blood.

[spikefader]

USG: I see an expanding major channel long on the daily, with a confirming intraday pattern today (close to a double bottom tweezer formation or inverted SHS neckline break at 60.50ish), so the bias is long while today's low holds. There is also potential bullish zero line reject on money flow. Not sure about the weekly count, but it's has clearly been impulsive and is probably due for a larger abc correction (today's channel long probably marks the completion of 'a'). So long is the play, to target short at 'b' completion (perhaps 67.00ish where the daily channel short is), to buy 'c' (perhaps as low as 55.00 where the major channel long is). LOL. A lot of speculation in there, but that's how I see it today.

The monthly impulse count shows potential for one more wave up to the 75.00 region in the next 4 months. If the buy point today is the perfect entry, target is 25% with 1.65% risk, a r/r of 15. Velly nice.

[tokyojoeskid]

ty

thanks for the analysis spike!

tjK