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Tuesday, March 16, 2010

Trades - SGG and PBR

1. SGG - I entered SGG today, but not for a day-trade. I plan on selling it between 60-62. IMO, it is too oversold, with some really heavy volume.

2. PBR - If your a fan of Fast Money, you would have heard the pounding of the fist for Oil. (Joe T. pushed the USO.) I looked at PBR, and think it can push 50 (probably 53) with bullish oil. In Nov 09 when oil was at the current level, PBR was at 53. With oil rising it should revisit these levels. (I would like to see PBR come in some before hand, but I don't think that will happen.)

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