$CVEO X-MAS pop? Part 2

CVEO is a case of the trading called "from worse... to less worse."

The type of trade like TCK was was last January. It was like $2-$3 and they survived the downturn in commodities which is the most important thing. The stock went to $25 right now. I don't know about you but very few experts were talking about that stock last winter. ;-)

When it comes to CVEO I am no saying that it will go to $25 any time soon but what I am saying is that the stock had a few decent moves. A 200% move last Spring and a modest 115% since the end of September.

As you can see on the chart it is an interesting juncture. What I really like regarding the stock is that this time the commodities story seems to have more legs than when it went up 200% at the Spring. The stock had negative earnings last time and nobody cares about that stock. That's great as this means "not everybody is in."

It's my experience that if I wait until a stock has a pristine balance sheet gushing out money... there is a very good chance that some smart computer/analysts on Wall Street will have figures out months ago. If everyone on CNBC and in the newsletter world gives a thumbs up to a trade... it usually means most of the meat has been sucked on the bone.

Again do your own research. Those are just a couple of ideas that might hopefully work for you.

Cheers

Comment:

This was one of my first two posts so the candles are pretty darn small but you have good eyes or a magnifying glass handy you will see that $CVEO touched roughly $2.80, then dropped and retested the POC area at around $2.30 and it is now slowly marching back towards the recent high of $2.80. Unless oil craters in the short term, I won't be surprised to see the almighty $CVEO put another foot out of it's multi-years grave in order to spook a few shorts on the way up.

Guys, if you go on further left on the chart you will see a lot thin air with low resistance.