Cincinnatuus

Honeywell Cyclical Wave Count

NYSE:HON   HONEYWELL INTERNATIONAL INC
This is a company I’m intimately familiar with. Notice this is drawn as an upwards correction. Honeywell is a company with fabulous Cash Flow Control. This company is the epitome of Financial Engineering, but that is the problem. In the 90’s, the price action can be construed as being impulsive, meaning that the prospects for the company were on an upwards trajectory. Since 2000, the price action has been definitely corrective.

This is because Honeywell has replaced its pioneering Engineering and Inventive Heritage with the likes of Business Carve-Outs, $11 Billion Share Buybacks and dividend raises, showing Investors that they don’t have any good business ideas. They are also famous for buying businesses, firing most of the Americans, running off talented Engineers, Inventors, and Entrepreneurs, replacing them with H1B’s and foreign manufactories, with the end effect of quartering Sales Volumes…

I’m projecting a drop back down below $138 before a potential final Run-up with the market between $185 and $205. After that its Bombs Away, unless Honeywell starts applying its world class Control Systems to its businesses, and investing in Innovation and future business prospects. Remember people, corrections eventually complete retrace.
I wish I read this before earnings and dumped my 401k into HON; spot on. Erased my 15% YTD gain in a few ugly market days. The sell offs happen fast and deep; how does a person suppose to react to this volatility in the market. Blew another huge chance to pick up some shares.
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Cincinnatuus RHofelzer63
@RHofelzer63, Hi RH. Expecting the next couple of weeks to be Harsh!. Of course matching comes out on the 15th, right in the middle of that. There should be some sort of January Effect bounce into the new year. Tough hand to play.
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