Although the major averages were dreary on the day, a few stocks made some nice moves. The chart below is a 15 minute chart of FOR. The stock met many of the characteristics we like to see in place for daytrading purposes. As a result, there was a directional bias in place to the upside. The stock then opened lower, another good sign. After a nice early morning breakout, the stock continued to move higher on the session, closing up over 13% on the day.
Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com
1 comment:
A consideration for another area that may improve could be railroads
When gas price shot up lat year many companies changed their freight shipping to the rails. They can haul more product at a better rate than trucks.
Environmentally, one gallon of fuel takes one rail car more than 430 miles, with less carbon dioxide pollution.
Some stocks to consider, all trading near their low 52 week range-
Burlington Northern Santa Fe Corporation (BNI)
CSX (CSX)
Union Pacific (UNP)
Rail companies raised their fuel surcharges, due to the sharp upturn in gasoline prices. And with gasoline now back down to around $1.87 a gallon ) and America in recession, it's possible that future earnings might decline. Regardless they'll still be profitable.
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