$HERO: Follow Up on a Winner

Back in December I posted about HERO and said that it was blasting off.  Here's a quick update on this play.  It has continued on its uptrend tear since the announcement of it taking over $HAWK, which now makes HERO the only shallow water driller in the Gulf of Mexico.  Although its in a major uptrend, HERO is a little overbought on both the Weekly and Daily time frames.  That means that it's most likely prudent to wait for a good pullback before entering a long position.  Here's an updated chart:

I'll continue to keep an eye on this one because I don't think it has fully played out.  Hope everyone is doing well.

TLT

I Need a Hero

Energy has been gaining momentum and I'm starting to see some substantial price action in many of the names that I follow.  One in particular is Hercules Offshore...with the ticker HERO.

I'll be waiting for a substantial pull back before looking to get in this stock.  You have to find a point where you can manage risk, and I don't see that right now.  Energy is lighting up and several names on my watchlists are really moving including:  PDC, EP, CWEI, HAWK, ATPG and GEOI.

Have a great Wednesday!

TLT