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Playing The End Of A Fed Rate Hike Cycle


It is not often that I start a piece, here or elsewhere, with a disclaimer, but I feel that I should here. A couple of weeks ago, I bought the stock that I will be looking at today, so if you think that makes it likely that I am simply talking my book, you need not read any further. I would, however, point out that having been trained in dealing rooms, no one position I ever take is for more than a fairly small percentage of my investable funds and, with all due respect to all of you, I somehow doubt that any one of you has enough oomph to move a stock with an average daily turnover approaching half a billion dollars in a meaningful way. All in all, the chances of me using this as an opportunity to front run you guys and pump up something I already own are negligible, to say the least.

So, why do I start with the disclaimer? Because the reason I bought it is important and still valid. In fact, one could argue that events since then have reinforced the logic behind the trade and, while the stock is a little higher now than when I got in, this may represent a better entry point from a risk perspective. 

Regular readers of my scribblings will know that despite generally favoring fundamental analysis over technical patterns, I do use a simple form of Elliott Wave analysis quite often to find an entry point for a stock that I believe has some value. That is what happened here with NextEra Energy (NEE).

As you can see, NEE has, since its Q1 earnings release…

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EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
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