Monday, July 16, 2012

ALJ - Purchase

Bought ALJ at $9.49 today.  Alon USA is a refiner operating in three segments:  Refining and Unbranded Marketing, Asphalt, and Retail and Branded Marketing (from Yahoo! Finance).  ALJ as been moving upwards since June 21, and today broke through resistance at $9.00 on above average volume.  The fundamentals are sharp, the technicals are sharp and this is one of the last refiners to break.  I believe that this stock will see $12 in due time, which would be good for a 25% jump.  Protective stop will be in the $8.35-$8.50 range, as ALJ recently found support in that area.

This material is provided for informational purposes only, as of the date hereof and is subject to change without notice.  This material may not be suitable for all investors and is not intended to be an offer, a solicitation of any offer to buy or sell any securities.  Following me in trades will lose you money.

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