Buy Linn Energy on a Pullback
by Sam Collins 10/12/09
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Linn Energy LLC (LINE) -- This LLC trades as stock and, through its subsidiaries, engages in the development and acquisition of gas and oil properties in the United States.
The stock is in a sharp uptrend, which despite a recent day of heavy profit-taking, remains in a strong bull market. Note the new buy signal from the stochastic, as well as heavy accumulation (green volume lines) since October.
But the stock is in a very steep incline and could have a sharp pullback. Cautious investors should wait for that pullback before buying, or take a partial position now and a full one later.
The stock currently pays a dividend of $2.52, which provides a dividend yield of more than 10%.
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