PAIRS TRADE: SHORT JOY, LONG ABX
Perfect Pairs Trade:
Mining equipment supplier JOY (Joy Global, formerly JOYG) is overbought and stalling while mining conglomerate ABX (formerly American Barrick) is oversold and basing out.
Upside potential: 10% in a month
Downside risk: 5% in a week
NOTE: I like ABX on its own as a long idea.
Tim West
10:24AM EST
1/18/2013
Mining equipment supplier JOY (Joy Global, formerly JOYG) is overbought and stalling while mining conglomerate ABX (formerly American Barrick) is oversold and basing out.
Upside potential: 10% in a month
Downside risk: 5% in a week
NOTE: I like ABX on its own as a long idea.
Tim West
10:24AM EST
1/18/2013
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