Ted Re...I don't know why but that could hold it back. I would put in a tight stop and try to ride it higher.<<<<<<<<<
Sound advice and thanks. In fact I had done just that as I moved my stop loss up to $27 and moved my upper target to $32. FST had an EPS loss because natural gas was below $2.5 BBcf. However this morning the futures were at $3.05 and crude fut. were at 24.5. The big question is how far up futures might go. I was wondering if you had an idea there. With GW making rumblings about Iraq. oils might hit above $26.
Sorry, I should have checked to see if FST was into oil or nat. gas........just saw the loss and future earnings being ratcheted down.
Crude futures have bottomed and now are up over $24 per barrel. Those who claim to be in the know expect the same bottoming for nat. gas. However, we are getting close to Spring so the process will slow down as less fuel is needed to heat homes. How that will effect the upward progress of oil/gas stocks....I don't know.
I am playing it that they will continue to ramp, drawing in disappointed tech investors. But of course, if I knew for sure, I would be having lunch with W. Buffet today. ;~))
Right now, it would have to break that downtrend on strong volume before I would go in. At these levels, a move to $31 would do the trick. <<<<<<<<<
As for Taro, because of the low cost of trades, I usually don't wait for the upper crossover, instead going for the bottom descending range, with a tight stop loss. 6 days ago Taro hit it at 27. 27 also happens to coincide with the Sept 11 low. and the May 01 resistence pt. So it Taro gets near 27 before it hit 31, I was thinking of buying. Also Taro has a great 4q-01 report; and health care costs in the US hit over 14% of GNP lately, a first. My bet is that tech will take a hit with poor 1q02 reports, and market will rotate. Any thoughts. I don't see a cup yet. Where.
Just make sure TARO had bottomed. Right now, its downtrend looks very much intact.
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