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Louisiana-Pacific Corp. Message Board

  • whydad whydad May 9, 2000 9:35 AM Flag

    lpx home page

    and i owe you one.would probably buy in over a 3 month increment and expect to be in for 12 months.

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    • In the last post I forgot to mention I was referring to a monthly chart. BTW I'm not trying to push the Elliott wave on you, just thought you might find it interesting.

    • Thanks for the compliment.
      www.elliottwave.com

      This sight has a free course on the Elliott wave. You
      might find it interesting. FTU is in an interesting
      position in Elliott terms. It could be in the vicinity of
      a major low.

    • In my opinion WY could make a low at any time for
      a nice rally. In Elliott terms it should eventually
      rally well above 74. I had previously referred to WY
      for the purpose of selling Feb puts. I think selling
      the Feb 55 puts is not a bad idea. Even if the stock
      gets put to the seller, the seller has a high
      probability of being able to sell the stock higher than 55,
      and fairly soon after expiration, in my
      opinion.

      You are talking about something different. This
      market in general has me scared to death. When this
      market tops, the downside potential to this individual
      is both breathtaking and quite frightening. In
      Elliott terms it can be counted very clearly that the Dow
      has completed 5 waves up from the 1998 low on the
      monthly chart. It is also possible the entire bull market
      is about to end. I say that not to frighten you, but
      in order to ask yourself a question. If I have WY
      and it drops 50% or more, how much is that going to
      bother me?

      Having said that, the weekly chart
      suggests WY is at or near a low. The monthly chart, in my
      opinion, is more bearish, meaning the overall decline in
      WY could last several more months. Obviously, I
      could be wrong. The risk is high enough on the monthly
      chart where I would not buy and hold here. But, that is
      my opinion. The stochastics, on the weekly or the
      monthly, does not suggest a huge rally is coming from
      here. Although the weekly is close. WY can have a big
      move from here, but the current stochastics lower the
      probability of that happening from right here in my
      view.

      Below this area, I have the next major levels of
      support at about 46, 42 and then 37(monthly chart). I'm
      not implying the stock is going to these levels,
      particularly 37, but that is a level of support.

      Your
      idea of not buying all at once may not be a bad idea,
      should you decide to buy. Hope this has been helpful to
      you.

    • In my previous post I mistakenly said the gap was filled at 14 1/4 on LPX. I should have said the gap is filled at 14.

 
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