WATCH
Just reported disappointing earnings. Revenue is still up 30%. There are lots of places for support. If a came off 8%, it would take it to around the $600 level. There are a lot of places for support and there are probably a lot of people that would step in over time. If you own, wait until 10:30-11:00 am to get past all the traffic jam and noise and you can kind of see what is going to happen.
COMMENT
Was a bit of a dog last year and then late last year and early this year it started to run but has now pulled back again. The chart puts the odds in your favour in an immense way. If it goes back to $1.20 level, treat it as “all bets are off”. Sentiment indicators are at a low and may stay at a low. Risk/reward is fantastic.
DON'T BUY
Charts aren’t telling us much. It had a little bit of a bottom last August and another test in December and is now into a bit of an upward trend. It's close to meeting its upward resistance. There are probably better opportunities elsewhere.
HOLD
Chart shows a long upward trend from early 2009. No reason to sell it right now. If it broke $18, you're probably going to get some interest and also at $14. If it broke $17.90, you may want to take some off the table and pick it up again around $17.
BUY ON WEAKNESS
Chart shows a downward trend line from early 2011, which has just been broken. He is hoping to Buy this on a bit of a pull back at around $35-$36 range. Well managed company.
COMMENT
Lumber has eeen decent and has moved up with the housing stocks. Chart shows lower lows, which is pretty positive. There will be some overhead resistance at around $45.
TOP PICK
In a good space and the risk/reward is pretty good. Recently broke out of a base at around $49 and could come back to that. Good management.
TOP PICK
DB U.S.$ Bull ETF. Measures the US$ against a basket of currencies. Downtrend has been broken and now has an uptrend so risk/reward is really good.
TOP PICK
Chart shows a strong uptrend from early 2009. Feels that with the Keystone problems, this is going to be a net beneficiary.