TraderMark: Restarting Braskem (BAK)

TraderMark who writes at his blog FundMyMutualFund.com talked up Brazilian chemical maker Braskem SA (ADR) (NYSE:BAK) today, thus its worth noting his comments and checking out this stock trading in the mid $15 range.

Braskem SA (ADR) (NYSE:BAK)
Braskem SA is a petrochemical company. The Company produces a diversified portfolio of petrochemical products and has a focus on polyethylene, polypropylene and polyvinyl chloride (PVC). It has integrated first and second-generation petrochemical production facilities, with 18 plants in Brazil. Its business operations are organized into four business units, which correspond to its principal production processes and products.

(TraderMark) We had a short 3 week estrangement with Brazilian chemical maker Braskem (BAK), leaving her Feb 24th, (she only wanted me for my attention, I only wanted her for her industrial exposure) but the stock looks ready to rumble again after doing nothing for a few weeks.   In fact BAK is pulling off an identical move as Greenhill & Co (GHL) did this morning.  We're back together again and making music. 

Restarting the position with a 2.5% stake, just under $15.30; will reconsider this relationship if the stock breaks back down below the 50 day moving average.  Otherwise a move to January highs would be a nice intermediate target.  Where I'll probably dump her again.

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SOURCE: http://www.fundmymutualfund.com/2010/03/bookkeeping-restarting-braskem-bak.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+FundMyMutualFund+%28Fund+my+Mutual+Fund%29