The chemicals group has been on the ascent as of late with names like APD CE POL building the right sides of their bases. This could be the sign of a strengthening economy, but we will leave that type of forecasting to the economists. We just try and interpret the movements of stock prices and attempt to profit from what they are telling us. Lets take a look at a couple names to explain why we like the group currently.
In Fridays 1/9 Game Plan we looked at FMC. We can remember almost a year ago the euphoria surrounding this name as it leapt higher on 3/10/14 by almost 7% as it announced it was splitting up its agriculture and minerals business. It recorded a bearish reversal that week and never went higher. In fact during a stretch it fell 15 of 18 weeks beginning with the week ending 10/10/14. Below is how we looked at the name in our report on 1/9.