Walters Industries
By Steve Abraham on Apr 25, 2008
11 Responses to “Walters Industries”
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WLT is definitely one of the best stocks this year. Probably still a buy at these levels ($107.90) for those that haven’t gotten in. One caveat is that it’s one of those stocks that have taken to doing well while the market in general goes through the credit crisis meltdown. One should manage the trade actively and be ready to jump out.
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I keep checking the coal fundies and they’re strong and getting stronger. Especially the coal going into steels…look over at my comments about NUE today on this site. globalCOAL reported coal prices at $174 2 weeks ago, and jumped right over $190 on July 4th!:
http://suckingless.com/2008/06/20/globalcoal-coal-prices-news-analysis-trading-system/
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WLT pulled back mid week during the nat gas sell off. A decent entry would have been in the high 68s. It should break to new highs when earnings are released and break thru the low 70s resistance level.