Bunge Jumping
The euro looks messy. The euro looks risky. The euro looks like a head-and-shoulders pattern just waiting to trigger. The euro looks like the biggest risk to equities in the current environment. If the euro can hold or equities hold on any euro selloff, I'm not sure what to tell the bears. The divergences I've been seeing just haven't made one bit of difference.
I did jump in and buy Bunge (BG) here today. This was a name I was looking at yesterday on the potential gap-fill and recovery. Bunge is seeing strength today and is now pushing into the gap. Even if the agriculture names have been lagging, this is one I am willing to own here. I've gone in with the stock on the long side, but the April $72.5 calls are attractive as well. There should be a dividend in May, so I am going to avoid the May calls, especially in-the-money calls right now....114 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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