When you have a hectic market like the one we have now, the only way to continue making money with any consistency is to cling onto the facts and figures that we know.
Like a climber searching for a rock to grab a hold of in order to propel himself upward, we have to locate the opportunities that give us a solid grip.
I may have just identified one such rock, so now we have to figure out if it’s steady enough to propel us upward into profits…
The only thing you can count on when Wall Street is in a state of pure uncertainty is consistency when you’re buying. I’m talking about the things that aren’t constantly rising and falling as the market whips back and forth.
The consistency I’m talking about is when a security can build up momentum and resist the big drops when they happen.
But more importantly, I’m looking for the few securities that seem to have everything going for them.
One I may have just found is Olin Corp. (OLN).
OLN manufactures and sells chlor alkali products in the United States and internationally. The company operates through three segments: Chlor Alkali Products, Chemical Distribution, and Winchester.
But I’m less interested in what OLN does, and much more interested in how OLN has been performing. And it’s been performing well…
On September 28th, OLN closed trading at $15.66 per share. Fast-forward to yesterday’s close, and we can see that OLN finished the day at $20.35 a share – that’s a 30% increase!
And on top of that, OLN has recently seen a spike in insider purchasing.
Within the month of November, there have been NINE insider buys that total up to more than $4.3 MILLION. And this is the president, the vice president, directors, and other insiders.
All together more than 200,000 shares were purchased by these insiders – that’s not a coincidence when it al happened at the same time.
OLN appears to be a solid rock to grab onto. All that’s left to find out is how far up we can propel ourselves from it…
