by Sam Collins 10/03/07
Apache Corporation (APA) -- This exploration, development, and production of natural gas, crude oil, and natural gas liquids company has been a darling of the energy analysts. Early this year, APA broke from a channel consolidation at $70 and made a run to an all-time high over $92. Stocks that make a break through $90 usually make it to $100 and APA looks like a good bet to do just that.
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FAST is now consolidating and recently flashed a buy signal from our internal indicator.
Options Expiration Adds Volatility
The opening looks to be higher but today is options expiration day, and anything could happen.
Chances are high stocks will sell off further, but be alert for a dead-cat bounce after such a dramatic breakdown.
Traders and longer-term investors should sell any new positions at the first opportunity and short ETFs on a temporary recovery in the market.
CAT, the blue-chip of its industry, is the first to attract attention when it's time to dress up a portfolio.
