We believe now is the time to be building this energy position.
If Friday's payrolls report confirms the ADP and ISM Services results, lofty equity prices, built on pie-in-the-sky expectations, will get harder to justify.
We look at the technicals and options pricing of a stock struggling to make new highs.
We see more upside in this energy name than in this tech.
As the stock hits a one-month high, trading in calls is getting heavy.
The stock has remained range-bound, so we'll collect our premium and go.
We'll buy Hartford on weakness and we have our eye on BofA.
Margins and pricing are improving, and the company plans further cost reductions.
The stock is a core position for the long term.
Today's one-sided price action matched typical first-of-month mark-up behavior, suggesting the Ukraine crisis delayed that bullish event for one session.