Burned by Ford, Schlumberger & More
They looked like hot stocks. So how are the traders playing Ford, Schlumberger and more now that they’ve been burned.

Joe Terranova

On September 23rd the Liquidator thought Ford was a stock with plenty of acceleration potential. “The international story for Ford is phenomenal, but also look domestically,” he said. “CEO Alan Mulally, he has just done a phenomenal job navigating through this crisis. This is the time to step in and buy again.”



Unfortunately this trade just kind of sputtered out. Since Terranova turned bullish shares have run out of gas. So, what does he have to say about Ford now?



"I'm so disappointed," he says. "I still like the play but considering the downtrend it's got to break above $7.60, a point of resistance, before you can get long."