This short-med term bearish pattern is getting closer to completion.. If you recall in late March I posted this "new" bearish wave pattern had started. We are still in this uneven wave 5 I had mentioned in an earlier post so watch for completion at 24.17.. Most of you know how the markets work. Of course there is the chance this could extend down further once this is met. So the downside targets are 23.57-23.14 and if that range fails to hold the next target range down is 22.34-21.52... It is extremely hard to catch anything at the low or high and the best I can do is give you the direction and targets.. I have no idea if this will turn at 24.17 or at one of the target levels. We are too far out from completion of this wave pattern. My suggestion: if you are looking to start/add to your holdings wait for wave 5 completion then trade accordingly keeping these targets in mind. Just a reminder: earnings will be released one week from today and of course this will move the pps..GLTA and hope this helps..
As usual, you could not be any more wrong. A year ago, when you were we're buying Puts right before the 1st Qtr numbers came out, I was buying Calls. You lost your behind and I turned 7,000 into 39,000 in 3 weeks.
What you failed to understand then and now is the recent price increase. Just like a year ago when the Qtr over Qtr loss dropped from 100 million to 25 million, there should be reason to be optimistic about the 1st Qtr of 2013. They had a price increase on Jan 1st and just like last year, it stuck!
You have been wrong about USG for so long I can't even remember how long it has been. I believe a lot of the run up is priced in but I also believe the 1st Qtr will be good. They could break even or get close to that. I am not buying Calls, will just hold the shares I have for now, but I am dang sure not taking your advise and buying Puts. Anyone that listened to you would be broke now. What happened to USG at $7.00 and insolvent by August of 2012?