With crude printing $105/barrel and potentially shooting much higher, I am paying even closer attention to vulnerable charts in some of the stocks in the transportation sector.
Two short ideas on weakness would be GBX and TRN. Macro analysis aside, you can see both daily charts point to heavy sell volume of late even with the bounces they staged last week. Should they break down away form these consolidations, I am looking at them for short entries.
Of course, a good deal of this may be market dependent–If we are back to a rising tide lifting all boats tape as the S&P sprints toward 1800, I would not be in a hurry to short much of anything. But they are short ideas, nonetheless.
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Do you care analyst price target or up/down grade? Do your trade ever change based upon that? ex. JPM lowered PT of MELI to 109, which lower than present price,,,, means sell ? What is your stance? Thanks!
Very rarely. Mostly noise. Watch the reaction by the stock.
Oil looks very overextended.
http://www.finviz.com/futures_charts.ashx?t=CL&p=h1 Most of this over has been fear driven. Oil bubbles are made to popped.
Oil Glut?
http://finance.yahoo.com/news/u-oil-prices-dont-call-162200807.html
http://business.financialpost.com/2013/07/11/the-great-oil-glut/?__lsa=0084-62d3#
http://business.financialpost.com/2013/07/11/oil-by-rail-canadas-way-out-west/?__lsa=8c19-abbf#
http://blogs.platts.com/2013/07/11/iea/
Been loading the boat for a longer term hold on $SCO http://www.finviz.com/quote.ashx?t=SCO&ty=c&ta=0&p=w
Just one traders 2c