Goodyear Tire: Bucking The Trend
I don't have a position in this stock, but over the past few days I've been watching GT break high day after day. Notice the strong relative strength line in the lower panel.
Some people might say GT is a defensive play and that it goes up when the stock market goes down. Okay, so explain why GT has been going up with the S&P since last July? Seems like GT goes up no matter what the market is doing.
I just wanted to share this stock with all of you. If any of you are really itching to buy something, this stock might be a good purchase the next time GT moves back towards it's 50 day.
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2 comments:
This is interesting because Goodyear had a big strike by its workers last fall and their supply was cut for a number of months. I think they settled it around the beginning of 07, which might explain the pick-up there.
Kevin, Keep up the good commentary. I get real value from reading your blog. Good perspectives and depth.
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