|All my charts are suggesting that the market is in a major bull market well into 2016-19. This is based on my Kondratieff and Elliott wave predictions. As we all know, there is always a correction to every bull market, and we should use that opportunity to buy the stocks we would like to own. Make a list of 10 or more stocks, and buy 100 or 200 shares of each. That way you are spreading your risk. This was the strategy used by Sir John Templeton after the crash of the 1930s. It paid off handsomely.|
Conmed (CNMD), a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures, is one share that you could consider. The company's products serve the clinical areas of sports medicine-arthroscopy, powered surgical instruments, electrosurgery, cardiac monitoring disposables, endosurgery, and endoscopic technologies. Under the Obama medical plan, more citizens could be receiving more sophisticated surgical procedures. This means that all medical companies should benefit. All manufacturers know that the greater the production, the cheaper the product.
|FIGURE 1: CNMD, DAILY|
|Graphic provided by: AdvancedGET.|
|An Elliott wave count shown on Figure 1 suggests that the share price is in a wave 3 of a wave III. The rule of Elliott is that a wave 3 should not be less than a wave 1. The target then for wave III is 30.77. We could see a wave 4 of wave III correction occurring now, but this only gives one a buying opportunity. Do note that the stochastic oscillator is suggesting weakness. |
I would be a buyer of CNMD as it corrects into wave 4. This should be somewhere between $25.02 to $28.20, the fourth wave of lesser degree, and then hold for the long term. Let the stochastic oscillator confirm the buy.
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