First a recap and apology. On my last post from 2/19/13 I recommended YRCW at around 6.50. We actually got stopped out at 5.9. Sorry that I didn't repost but the action turned up and I jumped in around 7 again. It went to 36 though I sold out much of it in the 15-20 range. Anyway, general instincts were right though exact numbers were off regarding the stop. Sorry. I'm done with this trade but still watching Yellow as there is still great potential.
WMB dropped a bit but not the 15-20% I was looking for.
OWW, I recommended at around $3.30. It went as high as 13 but is now around 9.8. Long term I think it is good but it may have more retrace down to 6-7 range.
Now for a new one. RIG is bouncing off of a 19 year trendline and has had pretty regular 9 year bottom cycles. It also has a pretty nice Elliott wave pattern that is a near duplicate of its retrace from 2002 to 2003. For those appreciating the technicals, it is a flat correction since the low at the end of 2011. Long term conservative players should wait until it has a weekly close above 58. The stop is below that big trendline with the blue arrows, around 44. Target is around 200 over the next 5 years. Some January 2015 call options with strike price are about $4.00. I suspect they'll be worth at least $30 by the end of next year.
For those still reading, could you please send me an email to let me know that you received this. My blogger dashboard is screwy and I'm not sure who is on the list anymore. also, if you are joining me on this trade, please let me know as it will prompt me to do more updates.
click on the chart below to see it's full extent which is beyond the small frame seen.
p.s. I am not a professional. trade at your own risk.
WMB dropped a bit but not the 15-20% I was looking for.
OWW, I recommended at around $3.30. It went as high as 13 but is now around 9.8. Long term I think it is good but it may have more retrace down to 6-7 range.
Now for a new one. RIG is bouncing off of a 19 year trendline and has had pretty regular 9 year bottom cycles. It also has a pretty nice Elliott wave pattern that is a near duplicate of its retrace from 2002 to 2003. For those appreciating the technicals, it is a flat correction since the low at the end of 2011. Long term conservative players should wait until it has a weekly close above 58. The stop is below that big trendline with the blue arrows, around 44. Target is around 200 over the next 5 years. Some January 2015 call options with strike price are about $4.00. I suspect they'll be worth at least $30 by the end of next year.
For those still reading, could you please send me an email to let me know that you received this. My blogger dashboard is screwy and I'm not sure who is on the list anymore. also, if you are joining me on this trade, please let me know as it will prompt me to do more updates.
click on the chart below to see it's full extent which is beyond the small frame seen.
p.s. I am not a professional. trade at your own risk.
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