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Compiling comments that experts make about stocks while on public TV.

2017-07-20

Opinion for Russel Metals (RUS-T)

Signal Price Bias Subject Owned
WATCH $25.370 BULLISH TECHNICAL ANALYSIS Unknown

There is a little bit of a bid underneath this whole growth profile area, particularly in oil and gas. Numbers show that the inventory is being worked off and there are a lot more rigs coming on. Chart shows a nice trend going from the lows at the beginning of 2016. Indicators are wanting to turn up, but are sort of bouncing around not sure what to do. A stock like this is going to be sensitive to all things economic. Wait until midweek next week and see what is happening with the FMC days. Take half your full position during that time. There is going to be a little resistance around $26, followed by more resistance around $28. There is a lot of seasonality on this. It usually has a fantastic August.

Hap (Robert) Sneddon FCSI
Chief Portfolio Manager & Founder, Castlemoore Inc. http://www.castlemoore.com

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