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TOO (Teekay Offshore) Trade Idea

TOO (Teekay Offshore Partners LP) was one of the highlighted trade ideas mentioned in the recent shipping videos. After breaking above the handle of the C&H pattern, TOO has now also cleared the 6.72 resistance level & looks to offer an objective entry here with a stop below 6.0 if targeting T2 or below 6.63 if only targeting T1 (gap backfill). With an attractive dividend yield of 6.5%, TOO will be added as both an Active Long Swing Trade as well as an Active Growth & Income Trade idea. note: The next dividend payment of 0.11/share will be payed on May 13th to those who hold the shares on April 29th.

TOO daily April 22nd

TOO daily April 22nd

 

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Apr 22, 2016 10:15am|Categories: Completed Trades - Long|Tags: |4 Comments

4 Comments

  1. lee1 April 22, 2016 10:31 am at 10:31 am

    shippers moving, watching kex over 64.60 and stng over 6.45 would like to see vol come in

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    • rsotc April 22, 2016 10:45 am at 10:45 am

      Yes, shippers holding up nicely in spite of the broad markets selling off hard so far. Just an fyi that if things get really ugly, all ships are likely to drift lower in a falling tide.

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      • lee1 April 23, 2016 8:24 am at 8:24 am

        Randy, I guess you block out all noise and just focus on charts : April 21 JP Morgan Cautious On Shippers, Says Container Market Service Contract Negotiations Look Difficult, Sees Downward Pressure On Rates

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        • rsotc April 24, 2016 10:03 pm at 10:03 pm

          lee1- Yes, I completely ignore analyst downgrades on individual stocks & sectors & to be completely honest, a downgrade on a stock that I am bullish on or an upgrade on a stock that I am short/bearish on actually gives me a sense of assurance on my position. That’s not to say that I go shorting a stock just because it gets upgraded or some analysts slaps a strong-buy on it, but simply that it has been my experience over the years that the majority of analysts are wrong most of the time & often tend to downgrade a stock or sector just before it moves higher.
          Do you recall posting a downgrade on POT & MOS the day after I posted them as objective entries (buys) on the front page here: http://rightsideofthechart.com/mos-pot-growth-income-trade-re-entries/#comment-1314
          Over the next 5 trading sessions, POT gained about 16% & MOS gained about 18%.

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