Archer Daniels ADM Is Moving Higher
On a day that is ugly (and could get uglier), ADM is shooting upwards. Currently ADM is up over 2.5% today and I couldn’t find news as to why. Of course the stock’s chart looks great, but is that the real reason? Is it a good recessionary stock? I think so.
Could it be the recent show President Bush had at the White House with alternative fuel cars? See ethanol.
Today ADM is flirting with its 200dma on a dialy chart. Watch for price to cross above it. If you are not in ADM now, I think the train is about to leave the station on this one. I’m not pumping it. The weekly chart looks very good.
disclosure: I own ADM.
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