Optimistic earnings out today with a $0.03 eps beat, plus recent share buybacks and the daily chart supports signs for a continued reversal up ..
Also the XLE ( energy etf ) looks like it has recently started to possibly turn bullish , this would would help EURN . Energy stocks generally have not done well recently but I think this simply will create some good opportunities to purchase stocks like EURN at a discount. Would be a great idea to hedge EARN with a short in the correlated industry to help maintain some market neutrality. However, I have not researched this and would love to hear anyone's recommendation to any energy stocks that my be overvalued at this time worthy of a pair trade with EARN :)...
PT is at $8.49 , if successful, I will cover my cost at current PT and hold remaining shares longer term with no stop . I really like that strategy for long term growth and EURN's 22% dividend certainly does not hurt .
I also plan to cost average with an another equally sized position if the price happens to drop a bit (one more equally sized entry per plan)
Good luck~
Also the XLE ( energy etf ) looks like it has recently started to possibly turn bullish , this would would help EURN . Energy stocks generally have not done well recently but I think this simply will create some good opportunities to purchase stocks like EURN at a discount. Would be a great idea to hedge EARN with a short in the correlated industry to help maintain some market neutrality. However, I have not researched this and would love to hear anyone's recommendation to any energy stocks that my be overvalued at this time worthy of a pair trade with EARN :)...
PT is at $8.49 , if successful, I will cover my cost at current PT and hold remaining shares longer term with no stop . I really like that strategy for long term growth and EURN's 22% dividend certainly does not hurt .
I also plan to cost average with an another equally sized position if the price happens to drop a bit (one more equally sized entry per plan)
Good luck~
艾力克~