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Wednesday, July 1, 2015

Energy Sector Play: GoodYear

Here is something that I think will work out: Goodyear Petroleam Corp. The entire energy sector is down and I love sector plays. I love them because it is not nessesarily the fault of the stock you are looking at, but its the entire sector being sold off due to fear, most likely due to market forces or the dominant player of that sector coming out with bad news and scaring everyone else away.
That makes for a good opportunity. Lets take a look at the chart:

Everything seems to be in a good underbought position. Like the double bottom, which is a good signal to get in. I then looked at analysts estimates for the current quarter, and although I am seeing some red, it is still higher than the rest of the industry.
Plus, I expect some upward drag when the markets hear the Greece news.
I get in with a August call so I have more time:

Note again the bid and the ask. Not the last, as here is doesnt match up due to lower volume. You may elect to purchase this outright as a stock or go for the option.

More later,
Tradinginsider

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