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Was Right On Both CHK and UPS, WLT Is Still An Avoid Here

April 26, 2008 7:48 AM

I said Thursday night that I did not believe we had seen the highs in CHK and that weakness should be bought. Up 5.6% on Friday. UPS only moved down .05 cents, but it did so in a reasonably big market rally. WLT is still and avoid as it needs to clear the high to be long up here and the stock seems somewhat overvalued anyhow. The stock is overvalued relative to CHK, and that is why I said if you want to be long the energy space, CHK was a better play here. CHK was up 5.6% while WLT was only up 3.74%. An extra 2% move by swapping out and going with CHK as I recommended.

Written by Tom@StockBlade.com · Filed Under CHK, UPS, WLT 

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