Something Different
Although I am still recycling the same old stocks over and over again (SUN, CAT, AKS, NUE, STLD), I thought I would entertain you with some other great stocks I have come across.
The things that I like about all three of the following stocks is that they are much lower than what they were just a couple months ago, which means they are certainly capable of rebounding back up to the levels they previously were at, and they are all in the energy sector.
The charts are pretty self-explanatory, so have a look at them.
Valero Energy Corporation (VLO)
If this stocks bounces off the resistance turned support, then I like it to run to at least $59, but don’t mind it heading back up to its previous 52 week high of $79. It looks to have bottomed out.
Suncor Energy Inc. (SU)
Another stock that has room to run, if it breaks through resistance. Current 52 week high is $118.
Petro-Canada (PCZ)
Just crossed the 200 day moving average, which looks good for long term growth. Current 52 week high is $61, but I see it flattening out first around $48.
Have fun making money.
Have you thought about trading commodities? It seems that you’ve had a great time trading volatility in a bunch of companies whose stocks are heavily correlated to swings in the commodities underlying their business (particularly metals and oil). It’s pretty impressive as I often shy away from these companies due in part to the seemingly random fluctuations in commodities prices that can cause a stock to reverse course with little warning.
I haven’t actually given it any thought, UNTIL NOW. We’ll see how long I can continue this run, and see if its not just a string of good fortune.