My Next Pick: The Time is Right for Sunoco Inc (SUN)
I apologize for the abbreviated post, but I will be headed out of town shortly until Monday. I did however just want to post quick about my next pick, that being Sunoco Inc (SUN). Last Friday SUN dipped as low as $63.62 before finishing back up to $66.57. This then happened again and once more after that. A possible indication that SUN has found a bottom.
The price of oil appears to have stabilized and SUN looks ready to make a major bounce.
SUN was as high as $88 during the past month. I wouldn't be surprised to see it rebound to at least $78 during the next month. News came out recently forecasting between 13-16 named storms this year including 8-10 hurricanes and 4-6 major hurricanes. We could see oil prices reach record highs very soon.
Look for an updated post and more on Sunoco soon!