Wednesday, August 19, 2015

[TOL] update



At the backlink I was several dollars too early in my count and in fact the chart morphed significantly from my model since then.  The new model is below.  I'm counting this as a rising wedge in e wave throw over which is corrective and which will reverse downward with gusto within 2 weeks.  That will create a massive declining double top.  The only way that I see this happening from a fundamentals perspective would be due to rising rates (whether or not Yellen decides to open her pie hole on the matter).

Nobody would believe this by listening to Jim Cramer.  He's up on the home builders man.  He wants you to "move" into them now.  I'm going to have to call Cramer out again.  Even if this peak turns out to be W3 instead of WC, the shares are still likely to head down to first support at $30 here.  Either way, his advice will IMO turn out to be either very bad or simply as mal-timed as humanly possible.


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