Contrarian Value Ideas

[gfp927z]

Derf, Another way to view ADM would be as a shorter term bounce play. Today it got through the 50 MA resistance (for now), and above that is the big gap going up to 67.5. Tough to say, but it might get to 60, then pull back to re-test the 50 MA. Then if that holds it could work its way up into the gap area, maybe get mid-way into the gap, say 63-65. So a decent short term trade idea. But just a guess, and will depend upon news flow and the overall market.

With a whopping $345 at risk, I'll probably just sit with it longer term. That's one advantage to having tiny positions --> minimal Tagamet required :o)



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