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Tesoro Corporation Message Board

  • jetbpc jetbpc Dec 16, 2010 12:25 PM Flag

    Back over $17 on our way to $21.00!

    These pathetic and weak downgrades gave many a great buying opportunity. I love valuation downgrades, as they are indeed buying opportunities - All they are saying is that the price ran away too fast from the analysts as their clients have not competed buying yet at the pre-determined max price. That is why analysts issuing these meaningless downgrades at the same time raise target prices.

    When stocks breakout like TSO did back in September, they tend to make 4 or 5 runs (waves), bouncing off the 18 day MA (of which TSO has done perfectly - just like the text books talk about). The 1st run was off the August low and ended early Oct with a small pullback (backing and filling). The 2nd run just completed and the action now is VERY similar to the pull back in late Oct early Nov.

    TSO is now finishing backing and filling on the 2nd run getting ready for the 3rd one which should take it to $19 or so. The 4th run should take us to $21... That is my target and where I will be looking to possibly sell.


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