APC is on our radar for inclusion into the Intermediate Term portfolio. It has a tradable trending profile in both directions as well as offering sector diversification. The chart below is suggesting that now is a good time to get on the Short side. Accordingly, we will be officially going Short here, buying the August $60 puts @ $4.50-5.00. Share price target is the mid-to-high 40's for a double or triple on the puts. If price goes against us and turns back up, the trend line is close enough to limit any loss.


Crude Oil

Despite global tensions across multiple hot spots, all of which one would think would send crude oil higher, the pattern recognition analysis says Crude has made, is making, or is about to make a multi-year top. None of which bodes well for APC:

First above is a long term chart of Crude Oil that is setting up for a Wave 5 Sell Signal. Below that the intermediate term chart that very closely resembles the chart of APC above. Ideally, both follow each other in a price move lower into the summer. 

Markets are closed tomorrow in observance of Good Friday, Next update will be this weekend.