Waiting on Ford to Pull Back
January 21st, 2007
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Man, if I would have bought Ford (F: Chart, web, Y!) when I first mentioned it I would have been up 15% in just a few short weeks.
I still like the outlook and I think if anyone can turn things around for the auto maker, Alan Mullaly is the guy, but I’d like to see the price pull back a little before I buy in.
The stochastics are looking a bit heavy, and I think a correction to around $8.00 wouldn’t be unrealistic, and in fact would be healthy for the stock. If that happens, I’ll start buying some shares.
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