Buffett set a specific price-to-book-value target for the buybacks, saying Berkshire ( NYSE: BRK-B) would buy back its own shares but only at prices up to a 10% premium over the then-current book value of Berkshire shares.

FORBES: The Importance of Book Value

If wave A is made up of three waves, we should expect wave B to trade back to the top of Wave A as a flat correction.

FORBES: Elliott Waves Warn Of Big Tumble Ahead For Stocks