Adjust WMT stop and buy YRCW

New Stop for WMT is $69.90.


Now keeping an eye on YRCW.  This shipping company has been a dog of the industry but recently reported positive annual operating income for the first time in six years.  On the technical side, it has a clear elliott five wave impulse up and a 61.8% retracement.  This is a buy with a stop at $5.9.  Initial target is around $9.00 but it could go much higher.

Adjust WMT stop.

New Stop for WMT is $68.25

Wal Mart is a Go

WMT closed above 68.80 today so the trade is on.  Although the Elliott pattern did not go exactly as I expected, it stayed within the needed parameters so that we can expect WMT to have another up leg over the next couple of months.  Target is 72-74.  Place a stop at 67.45.  

Walmart has a nice 1-2,1-2,1-2 elliottwave set up including an impulse wave with THREE 61.8% retracements.  In addition, it is at 50 week MA support and 18 month weekly trendline support (2nd chart).  Target is 74 in 2-3 months.  A close above 68.80 indicates it is a go.

Resounding Failure

Wow, that was just about as bad a call as one could make.  One day later, stopped out on CLF.  Oh well back to the drawing board after a painful drawdown.

DD took awhile, Next CLF for 40% gain

For the Dupont prediction I was right and I was wrong.  It recently hit 42 but instead of taking 1-2 months, it took 4 1/2 months and we got stopped out at 50.70.  If you are joining in on a trade, please send me an email and I will update the page or communicate directly with you as things develop.  

Next we are looking to CLF which has 1. Multiyear trendline support, 2. recent hammer candlestick, 

3. long term RSI and MACD divergence and 4. probable Elliott wave flat correction since September.  Target 50, Stop at 32.20 for potential gain of 40% with risk of about 10 % loss.  This should take about 2-3 months.

Short DD

This is an 80-90% probability trade.  Short Dupont.

Dupont (DD) has been maintaining a pattern of lower highs since early 2011.  There are numerous technical factors strongly suggesting that it will lose about 15% of it's value over the next 1-2 months.  In June it made a 61.8% retracement of the drop it had from April to early June and since mid June has done another 61.8% retrace, very classic Fibonacci ratios.  Click on the attached chart to enlarge it and to see additional information.