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Archive for October, 2007

This stock has strong fundamentals is the chart is also looking very nice. I will likely be opening a position on it tomorrow.

Screening source: Reuters Company Research

Darling International Inc. (Darling) is a provider of rendering, recycling and recovery solutions to the United StatesGÇÖ food industry. Darling collects and recycles animal by-products and used cooking oil from food service establishments and provides grease trap cleaning services to many of the same establishments. On May 15, 2006, the Company, through its wholly owned subsidiary Darling National LLC (Darling National), completed the acquisition of all of the assets of National By-Products, LLC (NBP). The Company processes raw materials at 39 facilities located throughout the United States, into finished products, such as protein (primarily meat and bone meal, or MBM), tallow (primarily bleachable fancy tallow, or BFT), yellow grease (YG) and hides. It sells these products nationally and internationally, primarily to producers of oleo-chemicals, bio-fuels, soaps, pet foods, leather goods and livestock feed for use as ingredients in their products or for further processing.

Fundamentals
 

Charts

Today I shifted some of my positions around. I am starting to cleanup my watch list by keeping only highly rated stocks by respected (or reasonable) research sources such as Reuters, S&P and Stock Scouter. I am still a technical trader but don’t think it hurts trading only stocks fundamentally sound.

Moving the Markets Today

NEW YORK (MarketWatch) — U.S. stocks coasted higher Wednesday, with investors cheered by thoughts the day could bring another interest-rate reduction by the Federal Reserve.

Closed Positions

G.TO (Goldcorp)
=>ENTRY:2007/10/26-Long G.TO at 32, stop@29, risk/unit $2.32 (2.7%)
=>EXIT :2007/10/26- 1100 at 32.87, Net PL $ 937.00 (2.7%) 5 days

Reason: Will re-enter, just freeing up some cash to go into both PCA.TO and RY.TO

IMO.TO (Imperial Oil)
=>ENTRY:2007/10/29-Long IMO.TO at 51.18, stop@47.63, risk/unit $3.59 (0.2%)
=>EXIT :2007/10/29- 500 at 51.33, Net PL $ 55.00 (0.2%) 2 days

Reason: Freeing up some cash to go into PCA.TO. Stock has more room for the upside than IMO which is a resistance.

Open Positions

2007/10/31-Long RY.TO @ $55.53, stop loss @ $ 52.61, risk per unit $2.95(5.3%)

Reason for entry: I have been watching the chart of RY for quite some time, it’s a strong and profitable bank in Canada. The chart shows it’s ready to continue it’s movement upward.

Fundamentals

Charts

2007/10/31-Long VIV @ $5.91, stop loss @ $ 5.41, risk per unit $0.51(7.5%)

Fundamentals
please refer to this post