My Next Pick: The Time is Right for Sunoco Inc (SUN) (Technorati) Technorati | (Del.icio.us) Del.icio.us | (Digg) Digg | (Blinklist) Blinklist | (Comment) Comments (0)

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!

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