I've been reading a bit about some of the stocks in the energy space. Some of it has queued my interest in light of the BHP offer to buy Potash last week. I think there are some names in the coal space that have potential. One is Walters Energy (WLT). It's chart does not look strong at this time, but with renewed interest politically in energy resources, it might be an opportunity to pick up shares at the low, while they consolidate before making a possible rally again. WLT closed Friday at $70.54 and it looks like it may drop a bit further. I like any price below $70, specifically, I like this price in the $60-$65 range. You can play it back to the 50-day MA (about $70) for a decent return.
Happy Trading and remember: Trade to trade well.
Obligatory disclaimer: This blog is for information only. Past results do not guarantee future performance. All financial decisions involve risk and there are no guarantees. The suggestions above are for informational purposes only and the blogger is not liable for any losses incurred as a result of actual investment activity on the part of the reader.
Sunday, August 29, 2010
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