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The Blackstone Group L.P. Message Board

  • tradingbasis tradingbasis Nov 22, 2013 2:47 PM Flag

    Possible inverse head and shoulders developing

    An inverse head and shoulders would be confirmed if we break through the neckline at 27.50 with volume. If so, PT would be 30 to 31 depending on volume levels. Short term catalysts: Hilton IPO, closing of two stock sales, bid for Devon finalizes, etc.

    Sentiment: Buy

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    • never heard of an inverse H-S-H.....I dont see any formation here on BX...

    • Inverse head and shoulder started Oct. 22nd and completed Nov. 25. Volume was not as high as I would like, so we will see if increases after the holidays. Volume picks up, we should see 31 next month.

      Sentiment: Strong Buy

      • 1 Reply to tradingbasis
      • Looking back at my technical call made on Nov. 22nd (with the inverse H&S confirmed on Nov 27th), the stock is up nearly 9% with room to go. I still see $31 maybe $32 EOY. Then, I am hoping for $31.50 to $32 in late December or early January and then a pullback to $28 range after that. This is where i will buy some 2015 LEAPS calls as they will like be able to monetize the Hilton IPO in 2015.

        Sentiment: Buy

    • For the past 3 weeks, BX has trading around 27.50 range. Today is option expiration day.
      After hours there are blocks above 50,000 to 100,000 at prices in 26 to 27 range.

      We cannot say, if it is accumulation, distribution, or cosolidation.

      Looking at KKR it is also moving today.

      There is lot of overhead supply and it will take few more weeks to know the course.

      Sincerely,

      Carolyn Novice

      Please see the after hours volume and block to determine, if there are serious players, Block house, Hedge funds.

      Sentiment: Strong Buy

      • 1 Reply to carolyn_novice
      • In case anyone is interested, Trader's Expo in Las Vegas is going on right now. You can view the sessions for free online. I have been listening to them today while trading at my computer. There is one session coming up at 2:45PM PST about finding better entry and exit points. Another at 4:00PM PST about spotting short term market turns. And another one at 5:30PM PST about advanced Fibonacci Time and Price analysis. They should be interesting. At least they are for free.

 
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