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Follow Up on WLT

By Steve Abraham on May 05, 2008

Last week I mentioned Walters industries.  The stock was in the low 70’s/high 60’s at that time.    Today, the stock broke out on huge volume of over 5 Million shares.  WLT closed out at 81.58 up 8.65 on the day.  The stock has been on fire for the past year.  I’m not one to chase a breakout but I think this might be an exception.  

 Other stocks that look ready to run higher:

United States Steel (X) - New 52 week high today.  Volume however was unimpressive.

Potash ( POT) - Stock resuming uptrend after very brief pause.

Intrepid Potash (IPI) - I took small position today.  I think it moves much higher.  Could be similar to Visa in terms of IPO’s on the mover.

Google (GOOG) - Money managers are coming back into GOOG after blowout quarter.  One year from now GOOG could be making new highs again.  I think anyone who bought GOOG before the last earnings and the subsequent 90 point day may a great decision.  This was a classic risk/reward situation where the risk was certainly worth it.  I don’t think it too late to own the stock.

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