Re: Bought COP

Looks to me like it could conservatively break a 40% or better bull run
in under 6 months. It's kind of anyone's guess because I see no
historical resistance. Since I don't have any historical heavy
congestion regions to work with, I'm using recent historical response
to the indicators to come up with a guesstimate of strength. Personally
I let the indicator accumulation/distribution tops and bottoms tell me
when to enter and exit, so I place less emphasis on setting a projected
earnings goal. Anything that looks reasonably positioned for 40% or
more in 6 months is something worth considering to me.

In Elliot Wave terms it looks like the tail end of the stage 4 bottom,
and the beginning of a stage 1 trend. Any price dips at this point,
like today for instance, are just bonus entry areas. The optimum wave
bull entry points are early stages 1,3,5 etc. so I'd expect this
upcoming move to be one of the largest, percentage wise, for this
stock.

I'm not getting into this stock either, but in a somewhat related move
I did pick up a call position on BR this morning.

-Luke
A Technical Trader's Notebook - Real Time charts
Detailed coverage of Markets - Sectors - Stocks - and ETFs
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1182672

Future wrote:
> "Awaken21" <lukecarlos@xxxxxxxxx> wrote in message
> news:1134406160.266808.43810@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> > Nice buy, excellent timing. I'd say good luck, but I don't think you'll
> > need it.
> >
> > -Luke
> > A Technical Trader's Notebook - Real Time charts
> > Detailed coverage of Markets - Sectors - Stocks - and ETFs
> > http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1182672
> >
> >
> > Jerry wrote:
> >> It dipped to 60.77 due to their potential buy of BR. Just too good a buy
> >> IMO.
> >>
> >> --
> >> Jerry
> >
>
> Luke Jerry, Where do you see COP going to? NOt going to play it just want
> to watch the chart and hope to learn something.
>
>
> Thanks
> Future

.

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