JCG - I will be taking on a put position in JCG. Although fundamentally they are outperforming and they have the best unpaid spokes-woman on their side (the First Lady), its valuation is simply too rich. JCG is looking very overbought, and looks to want to consolidate to, at least, 30-32.
PBR - With a nice consolidation, and sitting on support, I like it here. Although I am not understanding the extent of the consolidation, as the new rules about to be announced Mon are suppose to benefit them. Because of this twist, an initial position should be taken as the trade. (It may break down if we get Oil weakness in the coming weeks.)
FWIW, Guy Adami slammed JCG on Fast Money today--said no way its worth a 25 multiple. Didn't mention Michelle.ReplyDelete
Love your work and style.
Been watching PBR for two days, and still can't pul the trigger.
Are you adding here?... I'm looking for just over 38...
I thought the link to my chart would work.
Matt... For PBR there is support around 36, and that is where I will add. But i am prepared to add if negativity takes it to 32 (that is the next level of support im comfortable with).ReplyDelete
Way oversold... 39...
But, 'The Fear'...
Nice post above...
Thanks again for sharing your thoughts, time and effort!