Standout Stocks
My Stock of the Day is Schlumberger (SLB)This stock has had a very nice run, but it looks like it is getting overdone. The stock has been making somewhat of a parabolic move over the last few days, and is now very overbought. (see RSI above)
SLB reports earnings on Friday, and I think that regardless of the results, it will be viewed as a good opportunity to take profits. As such, I am taking a trading short position in the name.
Other stocks making notable, high-volume moves today include:
- MTOX
- JASO
- JSDA
- BNI
- TSL
- SPWR
- INFY
- VCLK
- STP
- FMD
- VRTX
- DGX
- DNDN
- TSO
- VLO
- BG
- KNOT
- SWN
short SLB
posted by J. Kahn @ 11:15 AM
2 comments
2 Comments:
I'm starting to get a little worried about you, Jordan. Shorting SLB and JSDA, two of the strongest charts in the market? The OIH finally cleared resistance at 150, BJS breaks above 29 (finally!) and you short the strongest name in the group? Yikes. Whatever happened to "Don't short a chart you can't ski"?
long BJS
Kevin,
Somehow, luckily, I was only short JSDA from 25.50 and covered at 23.00. If I was short this whole move, they would have to bar my windows. And as for SLB, I just think it's overdone right now.
But these short trades are merely scalps against a portfolio of long positions I continue to hold.
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