If you are a reader of Kuppy (free market commentary letters) He pulled the trigger on Scorpio tankers about a year ago. Prolific market analysis and commentary as to why. It had a good move then crashed. But I think the theme is intact and remains valid.

2 years ago Dan Ferris (value investor) did a similar analysis in the tanker sector. Great value and cycle ready to turn.

Well you know about the old saw of the pioneers end up getting the arrows in the back. They both took one for the team. But now we have Chartology on our side. And Plunger says: The charts are at least saying its worth another stab. Notice the double bottom with a lower second low combined with a positive RSI divergence. Everything else says go such as BB narrowing TSI curves etc.

I went ahead and bought an initial position of 2,000 shares to add to later if it turns up.

Later on in Dec/Jan I will be looking for the same process occurring in the oil sector and picking candidates, hopefully using PM profits to buy with.

This is how I like to buy em folks, bombed out, bottom tested with a well defined downside to put a stop in. It is worth the patience to wait out a turn from this point.