(BEE: 6.19 0.00%), Strategic Hotels & Resorts
Long BEE.
Risky trade, so playing it small.
Company has $0.92 per share in cash, book value $9+.
Volume pattern is positive since mid-July to present.
Negatives: insiders and institutions are selling.
Hat tip for the idea to Jelly Bean Trader.
(GIL: 25.22 0.00%) Gildan Active Wear
Gildan Activewear 2Q Net, Sales Drop; Activewear Sales Dn 22%
Gildan Activewear Inc.’s (GIL) earnings and gross margin were significantly lower in the second quarter as sales dropped almost 17%.
Sales of $245 million in the fiscal second quarter were down from $294 million a year earlier, hurt by an almost 22% …
As this news was released, the stock went on to gain 28%.
Short interest is about 5% of the float with 2.4 days to cover. So, is it a squeeze?
What do you do here? Short it or go long?
Though I dislike trading oil and natural gas, PennWest seems like a fairly low risk short trade. TSX ticker is PWT, but I prefer NYSE-listed (PWE: 14.01 0.00%).
Trade: short PWE
Entry: today’s close or on morning pop
Target: $12.15, once reached, I may move the stop to this level and let it go to maybe $11
Stop: $0.50 above entry
Risk: $0.50
Potential profit: $1.30-$1.80
I’m hoping for a quick and simple trade. The stop is tight as oil may take the stock above resistance in a flash.
Wouldn’t mind buying this back for its insane yield but not yet.
Click charts to enlarge
Subscribe via RSS