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With the news that Saudi Arabia had surpassed its production-cap levels, we think that other OPEC nations will also start to bump up their own production levels, as Saudi Arabia tends to lead the way and show other nations where the trend for oil is going.
But while oil prices and commodities seem to be stabilizing, we’re opening a new bullish trade on CSX Corporation (NASDAQ:CSX). The transportation sector in general has been performing well, and we think freight is starting to look a lot stronger in the short term.
Don’t plan to be in this trade for long, as earnings are coming up next week. CSX looks good as it breaks above a consolidation range, and we anticipate that investors will push the price higher before the quarterly reports are released.
‘Buy to open’ the CSX August 55 Calls (CSX170818C00055000) for a maximum price of $2.10.
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InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered 蜜桃传媒 Technician (CMT) designees, are co-founders of Learning蜜桃传媒s.com, as well as the co-editors of , a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by .
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