Stock Chart

GMT - Adding this to the watch list

06/10/2010 04:22 AM by Dave Pinsen

Found this on the Altman screener, where it appears as one of the most distressed stocks among those with share prices of $25 and higher. Macro headwinds as GATX is levered to the economies in the U.S. and Europe.

Chart looks week too -- the company had a big rally in April and it looks like it peaked at the end of that month, within a day or so of the cyclical bull peak that month. Had a smaller, right shoulder rally that failed in early May, and now it's trading below its 50 and 200 DMAs: http://www.google.com/...

Thinking about what might be a good entry point here.

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  • 06/10/2010 02:45 PM by Dave Pinsen

    Just shorted this at $28.05.

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  • 06/15/2010 09:33 AM by Dave Pinsen

    Stopped out at $28.98 today for a loss of 3.3%.

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  • 06/15/2010 09:36 AM by Dave Pinsen

    BTW, was going to widen the stops on this and pair it with a long position, but, as I mentioned here ( http://steamcatapult.c... ), I couldn't find a long I liked in this industry. So I tightened up the stop yesterday which got me out today.

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