PBF: Potential start of the up move here

PBF has a solid setup here, it's bound to breakout above the highs soon, so we can start buying gradually until it shoots up.

Good luck!

Ivan Labrie.

Commentaire:

Tim West has shared this article with me, it's quite relevant: marketrealist.com/20...ad-short-interest-6/

Commentaire:

"PBF Energy
Currently, PBF Energy’s (PBF) short interest-to-equity float ratio is 14.3%. One month ago, it was 11.1%. Three months ago, it was 7%.

In the past three months, PBF Energy’s stock has fallen 3.9%, while the short interest-to-equity float ratio rose 104% during the same period. Its net debt-to-EBITDA ratio was 0.5x in 1Q16 and its cash and cash equivalents were $1.4 billion."

Commentaire:

From the Key Hidden Levels chatroom:

IvanLabrie
the Gasoline boost helps

this puts us against resistance

Commentaire:

IvanLabrie
the short interest can lead to a massive short squeeze
s3.amazonaws.com/tra...shots/p/p5ZAwQxv.png

Commentaire:

IvanLabrie
the short interest can lead to a massive short squeeze
s3.amazonaws.com/tra...shots/p/p5ZAwQxv.png

Commentaire:

Now we're talking!

Trade fermée manuellement:

I'm out, waiting to reenter longs, either lower, or higher.

Commentaire:

Nice dip to rebuy, I'll buy back gradually over a week from Monday close.

Commentaire:

Good progress in the buy. I'm shorting the 30 strike calls, Jan 20 2017 expiry here, we might have hit a wall for a while.

Commentaire:

Commentaire:

We broke above the earnings level, if we see a daily high above it, on close, we can get rid of the short call and hold longs for more upside!

Commentaire:

(and yes, double the position and place a stop at 27.67)

Trade fermée manuellement:

I sold at 28.96 for now.