Monday, November 16, 2015 4:10 PM EDT
Here’s something I don’t do often – – offer up a long idea. Since I’m a contrarian at heart, this is a speculative one, battered for many, many months as part of the beleaguered energy sector. I present to you Bonanza Creek Energy:
(Click on image to enlarge)
Perhaps you’ve noticed I included volume in this chart, which is atypical. I did so deliberately, because the volume has been surging during the entire building of the base you see above. I think it’s an interesting pattern, and provided the stock stays above $7.02, it seems a very promising long position to me.
This blog is not, and has never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural ...
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This blog is not, and has never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural observations or other odds and ends strike me as worth writing about. So I take absolutely no responsibility for the losses – or any credit for the gains – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.
Please note I am the principal of Tim Knight Organization, LLC, a California-registered investment adviser. The content of the postings and investment strategies and discussions provided herein do not necessarily reflect the views, opinions or policies of Tim Knight Organization, LLC and Tim Knight Organization, LLC makes no warranties regarding the accuracy of their content or their completeness.
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