PBF: Potential start of the up move here
Atualizado
PBF has a solid setup here, it's bound to breakout above the highs soon, so we can start buying gradually until it shoots up.
Good luck!
Ivan Labrie.
Good luck!
Ivan Labrie.
Nota
Tim West has shared this article with me, it's quite relevant: marketrealist.com/2016/10/integrated-energy-refiner-stocks-lead-short-interest-6/Nota
"PBF Energy Currently, PBF Energy’s (PBF) short interest-to-equity float ratio is 14.3%. One month ago, it was 11.1%. Three months ago, it was 7%.
In the past three months, PBF Energy’s stock has fallen 3.9%, while the short interest-to-equity float ratio rose 104% during the same period. Its net debt-to-EBITDA ratio was 0.5x in 1Q16 and its cash and cash equivalents were $1.4 billion."
Nota
From the Key Hidden Levels chatroom:the Gasoline boost helps
this puts us against resistance
Nota
the short interest can lead to a massive short squeeze
s3.amazonaws.com/tradingview/snapshots/p/p5ZAwQxv.png
Nota
the short interest can lead to a massive short squeeze
s3.amazonaws.com/tradingview/snapshots/p/p5ZAwQxv.png
Nota
Now we're talking!Trade fechado manualmente
I'm out, waiting to reenter longs, either lower, or higher.Nota
Nice dip to rebuy, I'll buy back gradually over a week from Monday close.Nota
Good progress in the buy. I'm shorting the 30 strike calls, Jan 20 2017 expiry here, we might have hit a wall for a while.Nota
Nota
We broke above the earnings level, if we see a daily high above it, on close, we can get rid of the short call and hold longs for more upside!Nota
(and yes, double the position and place a stop at 27.67)Trade fechado manualmente
I sold at 28.96 for now.
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