I’m guilty of recency bias here, so understand that ahead of this idea. A couple months ago, I started talking a lot about the $BPTRAN, which is the bullish percent indicator for transportation stocks. Couple this with the work I did last year about what I felt would be a false Dow Theory sell signal and I’ve been pretty upbeat about this group, especially considering that most of these stocks were hit hard in the last year.
Here’s a longer dated snapshot of this indicator from the DW site. It’s pretty rare for transports to get this low, but this has been a fantastic buy indicator as all my P&F chartists would agree.
Some of the top weightings in the index include $KSU, $UNP, $NSC, $LSTR, $CHRW, $JBHT, $R, $KEX, etc. I’ve been watching the long term charts of these and they look amazing. The last year or more, they’ve all been trading in bullish flag/wedge patterns back to support. The response down there was hard to ignore.
$CHRW reports tonight. I’m tempted to add this to my list of ER plays.
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Reloaded my $KMI September calls that I sold before earnings. Also grabbed $XON shares. Couldn’t settle on a strike and expiry so I went for shares to give it some time to work.
YRCW?
SWFT and YRCW were of my favorites.
My last new position today was to get calls in $YRCW. I’ve deployed about half of my $S funds and am going to hold off on the rest for now.
OA – Are you looking to buy oil stocks or oil itself?
Long oil right now.
I’m with you. I got stopped out last week but bought at $42.8 today. Better risk mgmt at the bottom of this pattern.
If long oil then HES would be an excellent vehicle to buy here.
Look at HES vs OIL or UWTI at all time frames.
YTD:
HES….+9.35%
OIL……-13.16%
UWTI…-47.70%
6 Month
HES…..+52.31%
OIL……+16.08%
UWTI…+3.81%
He has a point.
Maybe this explains why $AA and $TCK are looking so tempting to me right now as beneficiaries? Earnings Thursday AM for $TCK and very low volatility
Oops should say relatively low lol
WNC reports tonight. Was looking at Sept 15 calls @ .2
Bought TSLA Next week 275’s @ .33 earnings YOLO
Was debating on $WNC and $CHRW. Maybe both? Glad to see you.
My kinda market…and obviously yours. I will be joining your service next week as I slowly work excess commission dollars into the market. Bar and lending businesses are very good and affirm the optimism in share prices.
Bought LC Sept 5.5 and OCT 6’s yesterday and riding this recent run in EXAS.
It’s biotech time. VRX looks ready to rip. MNK also looks coiled.
TRTC getting going.
CTXS and AKAM top earnings plays for tonight. BAC also looks ready to rip 15+
Time to bank some major coin gentlemen.
Yeah man, all systems go. Could care less if the market moves at all, I’m killing stocks.
Uwti adding here
bought dat $FCX open with Aug calls. came back to see some winship
Exited QQQ calls today. Eyeing crude once again via XOP after getting stopped out yesterday
Crack spreads widen, my $WNR getting longer.
Looking at the headroom in $VLO $MPC $HFC $TSO I blew outta $CELG after seeing the devastation to $GILD.
You still have time to buy back in.
Need a 9 handle $CELG
You’ll get 12.
Let’s get $GILD to 77 and I am on it.
Can’t. $80 is the shoulder here.
based on the PnF charts i would take a look at $GLOG and $KNX which offer a twofer.
for long oil I would offer for consideration $MRO, $GPOR, and $FTK for consideration.