Friday, May 27, 2011

WLT Walter Energy update 5/27

On 5/24 I offered Walter Energy (WLT) as a great trade opportunity as it formed a hammer on good volume off great support. So far if you got in this trade in the 115-120 level you have been rewarded the last three days as we push into the 125 level and its first real test to the upside. If you happen to load up then this is a good opportunity to maybe consider taking a small quantity off. Still feeling this ends up back in the 135-140 range, and have targeted my position as such.
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2 comments:

  1. JoeMay 27, 2011 at 1:02 PM

    Good eye man, I traded this one

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  2. SandwichHeavyInvestorMay 27, 2011 at 1:12 PM

    Thanks and me too, be a little weary as I said, looks like this day might be forming a shooting star off the previous peak on 5/18. Hopefully if you had some size on you were able to pull some off at 125 and now can just hold for either a break even at new lows or a good profit if we get up to that 135-140 level.

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