A very good trade on the outlook.
Provident Energy Trust is an open-end investment trust created to hold, directly and indirectly, all types of petroleum and natural gas and energy related assets, including without limitation facilities of any kind, oil sands interests, electricity or power generating assets and pipeline, gathering, processing and transportation assets.
Wow that’s a big ‘TRUST’. Hmmmm
Look at the last fortnight, which was the platform for ramming through the previous 52 week high at $12.45.
The chart looks sexy with the last 14 days mostly green.
Take a look at the ppo at 1.111.
Buy anywhere above $12.46 with a stop just below $12.25, in case it fails to close above $12.45
I like the sector, love the trust and am crazy at that chart.
Look at that chart !!!! Our reco was around $16.5. You have a sweet profit of about $5. How much is that ? Is it around 30%. Holy cow.
Lets take something off the table.
LKQX going up big tooooooo.
Secondary offerred at $31. Doesn’t that mean support? Get long again. Look at that WORLD’S TALLEST GREEN tower yesterday.
Get long lkqx. Take something off TGIC and ride the remaining.
Financials, Mortgage, housing and Retail !!!
Our latest recos: TGIC (+5%), GES (+4%), M (+0.3%) , and LKQX (+12%) all rallying after the news that the FED cuts 50 basis points on both Fed Funds to 4.75% and Discount Rate to 5.25%.
TGIC our reco at : $16.50. It went a bit lower tooo for you to get on the train .
GES reco at : $46.50
M reco at $31 to pay upto $31.50
Macy’s went lower and lower and people even cursed us. It should be the play now tooooooo. Rumours in the market, don’t just go technical, base on the rumors and news and most off all the FED CUT. 😉
LKQX has been rallying since the reco four days back :
Reco at $29
Take profits at key levels.
LKQX our latest reco on the charts re bounded off the support to start the run higher.
TGIC comes back HARD
It went up all the about 15% after our reco. We went back down…and today’s countrywide news is taking us back there.
One good company just got hit brutally and that thing just hit the support and is ready to bounced back. I know some people don’t like charts.
For them, we are looking at a company which had a terrific quarter that beat expectations, and have been growing steadily for the last 4 years. Earnings have just as steadily improved from a loss of $(1.00) in 2002 to a profit of $.40/share in 2003, dipping to $.20/share in 2004, then increasing to $.60/share in 2005, $.80/share in 2006 and $.90/share in the trailing twelve months.
The short interest in the stock is a tad 8 million. That is nearly 7 days to cover. That’s big enough to make you money on some good news. Look to buy around that $29 and see it bounce back. We take profits at % and 10%.
The performance of last two recommendations have asked me to take a little extra care about our history of taking profits at 5% and taking most out of the table at 10% profit.
Though, both our last two reco’s TGIC and M hit the 5% profit marks easily, and then TGIC went on to hit that 10%-15% profit mark we were culprits for being PIGS. We were greedy and we betrayed our strategy of taking it off the table at 10%. We did not take profits, but are counting on the reversal of trend.
It’s like we betrayed our best friend. So, from now on, unless there is a wonderfull news after the recommendation, we are going take half off the table at 5% and the other half at 10%. If we like a stock for the long term and not as a trade we’ll make a special mention of that.