I think RD under normal circumstances could have a destination at $61.30. This should equal to a recent hi/lo swing on August high $65.30 to low $63.08. The equal distance of that swing would bring RD to $61.30.
Just my hunch. Anyone putting a grain of salt on it?? Yeah! lets start guessing.
This RD swing should correlate to SP500 swing. The Elliott wave folks expected SP500 to reach 1676-1680 counter trend rally. Then suppose to go down again to SP500 1636-1640 to complete the wave iv correction, if this rally don't reach 1670 SPX, then further correction may happen. ( I am just trying to digest what this Elliott folks are saying because they are good). What it means for as RD trader is to watch SP500 rally reaching 1676-1680 area to sell RD, for SPX is going down to complete the wave iv correction cycle. I am just taking a cue from them for market cycle direction and I am sharing what they think. What I gather from this is that more zigzag ahead before it goes into sustainable market rally. Does it help anyone? I am new to this Elliott wave market cycle and I am just trying to read their tea leaves. Good luck to all!
I have watched RD fever since I have owned it and I have yet to see any correlation of RD to anything as I have seen all oils going up and RD go the opposite direction. The one thing I do know is RD is a range bounded stock so whenever you buying if you wait long enough you should be able to get out at a profit. I am getting better at picking stocks and good entry points.My problem is a lack of patience and being swayed by pundits and analysts. I have stopped believing them and their theories and rarely watch any of the business channels. Good luck to all.
I am in100% now. I believe we're in a short term bounce. possibly to 66-66.50. like Ray says it won't be till next week that we will truly know if this is an upturn. I'm willing to take a risk here to get in at the very bottom. if Monday is another pop up it could be the beginning of the three soldiers patt.ern... very bullish. but too early to tell. taking the chance because the MACD line is crossing the signal line and the grass is now im positive territory. otherwise I wouldn't be taking this risk. good luck to all!!
I gave it a few day rest, but with Rd receding into the 63s, going back was too compelling. The reason was high oil and the prospect for a good earnings qtr. coming up. As we get closer to Sept 9 and the kettle of elected Einsteins re-convening, the political chat will cause choppiness. But Wall St may be less receptive to scare tactics that it was in 2011, knowing that the resolution is always to print more and pay the indigents. Yes, I nice breeze today. I would also pay attention to the historical burp-ups that Rd is prone, where the price can recover dramatically over a handful of days.
I'm still all in big time too since I purchased for the dividends. What's up with the major oils today? This is more than the sideways that all have been saying. Do you think RD and the major oils will keep this momentum. Hoping for a jump off at 67-68. That sure would fill my sail. Any thoughts.
The market seem to find a base here, but the bounce is not confirm. It could pop short term or longer term swing for SPX swing pivot expected somewhere in the 1676, the counter trend is normal and energy sector can be traded with hit and run type for it is starting to show a short bounce. Myself, I will hold off till next week and see more data. This type of trade for for a higher risk taker for a quick in and out, unless the SPX decided to go beyond 1676 area. I would like to see markup inclination before I dip my toe.
I believe we'll be sideways until the next disappointing quarterly result, then a bit lower. Not dipping my toe before October, or later.
Announcement date October 31, 2013
Ex-dividend date November 13, 2013
Record date November 15, 2013
Payment date December 23, 2013
had a gut feeling today. The MACD is about to cross the signal line. while this is not an assurance of a short term or long term reversal, it could possibly be. if there is an upturn I believe it will be short lived. anyway I've entered 30 percent into Rd at this point hoping for a short term pop before heading back down. the market was up despite Treasury yields being up.. some good economic info came out in the US and China.. we haven't got into the meat of the budget debate yet... so I'm looking for a small rally here.. all this along with the MACD rising... I'm going to take a guess and a chance! Good luck!