Brandon50115

I'm trading ALDW oil, F, GM

Long
NYSE:GM   General Motors Company
Viewing the chart above, the vertical line represents the day Hurricane Harvey hit. These stocks; which fall in the automotive, home and oil industries; saw a substantial increase over the next month and all but oil is still seeing an increase.

Ford, GM , LPX and Alon. I have been mentioning and trading the first three, Alon (ALDW) is a new one for me.

ALDW appears to be forming a cup and handle going into this storm. The last storm caused ALDW to jump upward. At a p/e multiple of 16.38, this stock trades cheaper than say XOM , which is at 29.49. Also note that ALDW has a small capitalization of 739 million, making it fairly reactive to oil prices.

I'm using technicals, mainly RSI , for entry. I look for RSI to range around 50-65 on support, lower could mean a bearish move.

My portfolio holdings going through Q4,

FX trading - 10%
Swing/pattern trading - 30%
ALDW - 20%
F - 20%
GM - 20%

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