scotch321
Long

Long Position in Daimler Initiated

OTC:DDAIF   DAIMLER AG
On Friday, I initiated a long position in Daimler at the close. Considered waiting for the stock to drop to around 67.18 but was not willing to risk the market getting away over the weekend. The decision to invest in Daimler came from a thorough review of their financial statements and ratios. DDAIF has been on a Price to sales decline over the last 4 years and has been hammered this year from trade concerns. Though trade concerns could cause this trade to go against me, I believe that the trade war headlines are over emphasized and merely just to written to grab readers and sell newspapers. Furthermore, a correction in the USD is looming; having rallied about 7-8% this year a reversal to a historically average exchange rate will be a major benefit to this trade.

Support:67
Just broke 30 day moving average
Just broke two month resistance
Target: 77
Stop loss: down 3%
Expected hold: end of year
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