Procter & Gamble (NYSE: PG): Selling Pringles to Diamond Foods is Nuts
Last April, consumer products giant Procter & Gamble (NYSE: PG) announced that it was selling its Pringles brand of potato chips to Diamond Foods (NasdaqGS: DMND) for 29.1 million shares of Diamond stock plus Diamond’s assumption of $850 million in debt. But then the accounting scandal broke and the deal turned sour.
ROK short: no bounce at all on important long term support level
ROK: no bounce at all at important January gap support level, despite yesterdays positive
action of the markets. Significant april gap down on high volume the day after
the 52w high has put an end to the uptrend. Short below yesterdays low.
ROK short: sell stop 78.95, stop loss 80.16
day trading target: +1.55$ profit
Walmart Stores Inc.(NYSE:WMT) is the worlds largest and leading retail stock. This morning the stock is declining lower by 0.50 cents to $51.50 a share. The stock will have intra-day support around the $51.45 area. This is a level where the stock could see a short term intra-day bounce.
F5 Networks Inc.(NASDAQ:FFIV) is one of the leading networking stocks in the tech heavy Nasdaq 100. This stock is declining lower today by $3.35 to $100.06 a share. The stock will have some minor intra-day support around the $99.25 area and more around the $98. 50 area. Should the stock fail to hold these short term support levels this stock could see sharper declines.
WANNA SEE HOW I MADE $6,000 ON STOCK PICKS EMKR AND THE SHORT ON GWAY IN A DAY OR TWO? OF COURSE YOU DO!
Another Huge Friday where we locked in some HUGGGGGE gains on our two positions in EMKR which was an excellent FOUS4 pattern and GWAY which was a short position which i have been getting much better at.. Maybe in a year or so i’ll have mastered shorting and will detail a DVD on this strategy as well!
FXI Gets Smaked Again. Watch These Support Levels.
The iShares FTSE/Xinhua China 25 Index ETF (NYSE:FXI) is trading sharply lower this morning. The FXI is declining by $1.00 to $41.58 a share. The FXI has been in a major down trend since early November 2010 when inflation began to really hit the Chinese economy. Traders can watch for short term intra-day support for the FXI around the $41.40 and $41.00 levels.
Devon Energy Is The Ugly Duckling Energy Stock Today
This morning most of the leading energy stocks are trading sharply higher. Devon Energy Corp.(NYSE:DVN) has been surging to the upside on the daily chart, however, today the stock is pulling back as investors take some profits off the table. DVN will have minor intra-day support around the $86.50 area and more intra-day support around the $86.00 level.