BHI base formation 10%-16% upside, 6% risk

562 5 2
Basing action under $49 per share reveals a decent bottom pattern. The last two declines from the $52 area show a pattern of declining volume , which alerts me to a strengthening, accumulating stock. As the price lifts back up here it will need to get some volume going to confirm a bigger rally to the $55-$58 level and it will take some time to get through that level, perhaps as long as a month. BHI             has been lagging the group a bit, but this rebound back to $50 today may be the sign that the bottom is in. If you can be patient, it would be ideal to be able to enter at the $49 level. What I am considering is to sell the $50 strike put options for March for $1.75, which would give me a 3.5% return for a month or a $48.25 entry if the stock is put to me. I like my odds at $48.25 especially given the strength in the price of crude oil             .
By: Technical Tim, Fri             , Feb 17, 2012, 4:27PM EST
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timwest lercarto
It's really nice when you vote "up front" when an idea is presented. It's obviously easy after the fact to agree or disagree.
Nice presentation and well mapped out. Let us see what the future has in store, if not a pullback by the market to upset this plan.
good for now
Completely agree. I'll follow this idea. Good luck Tim.
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