They don't all work out. Vulcan Materials (VMC), first discussed here on June 3, 2009 at a price of $46.28, was stopped-out for a roughly 9-point loss at $37 on August 24, 2010. Vulcan, a major producer of construction aggregates, asphalt and concrete, hit a high just shy of $60 in the spring, then formed a bear hug.
The calculation in June was that a bottom in highway and related road construction projects would push VMC out of its bear hug pattern. It did not happen, and the trade ended with a 9-point loss. Vulcan later made a new 2010 low at $35.61.
Continue reading Vulcan Materials: Stopped-Out for Loss
Vulcan Materials: Stopped-Out for Loss originally appeared on BloggingStocks on Fri, 01 Oct 2010 15:00:00 EST. Please see our terms for use of feeds.
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Vulcan Materials Company - Concrete - Road - Asphalt - Business
Full story at http://www.pheedcontent.com/click.phdo?i=db71a6b7169a4a09305e2985944e530c
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