It’s been a rotten week for equity bears (Week? How about Month? Year? Half-Decade?) There are still a few good charts out there, though, even in the face of general equity strength. One of them is Teck Resources, which I am long puts and short the stock. It has finally started marching steadily downward.
This stock has been very stubborn and, until recently, slow to move, but if it can finally break that lower red line I’ve drawn, we’re off to the races.