Update: WFR, BG, CPO, ICE, IVGN, LFC, XLF
Posted on January 7th, 2008 in Long Trade, Stock Market |
I think the overall market is oversold and ready to turn in a day or two which is why I sold my TWM shares today. WFR got smacked today down -7.3%. Wait for this to test $70 and look for strength before entering.
I bought BG today at $122.00 my first target is $130-135.
Keep your eye these stocks if the market turns up:
CPO if it can climb over $37.75 on more than 1 million shares.
ICE if it can climb over $175 on more than 2.5 million shares.
IVGN if climbs over $93 on more than 800,000 shares.
LFC if climbs over $76 on more than 2.6 million shares.
XLF looks like it’s ready to turn up for a few days, overall I am still bearish of financials . I don’t recommend a long trade but wait for this to bounce up to about $30 then short this sucker using the SKF. I would buy the SKF between $96-100 and let it ride up to $115.
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