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As you may know Worth is a market technician who follows patterns in charts. Because he believes stocks are stuck in a range – basically dead -- Worth feels this market is ripe for pairs trades.
In a nutshell he advocates looking at stocks that have been highly correlated over time until lately when they have diverged. The assumption is that they will converge again.
Trade #1: Long Daimler (DAI); Short (F)
Worth’s thesis: Patterns suggest Daimler's stock looks be in the throws of a bearish to bullish reversal while Ford's stock has recovered too steeply.
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Trade #2: Long (ACN); Short (IBM)
Worth’s thesis: Patterns suggest Accenture is in the early stages of a bearish to bullish reversal while IBM's November – June advance has been very steep and 'uncorrected'.
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Trade #3: Long (UBS); Short (CS)
Worth’s thesis: UBS's bearish to bullish reversal appears well-defined while credit Suisse has “shot the moon.”
So when should you take profits? “If you can get 5%-6%, walk away,” Worth says.
To see Worth's complete analysis please watch the video.
- Your First Move For Monday November 16th
- Web Extra: Where Will The Next Bull Come From?
- Burned by Yahoo!, Disney and More
- The Latest Picks That Paid – Friday November 13th
- Pops & Drops: Dow Chemical, Macy's...
- Chartology – Can Stocks Break Above 1100?
- Fast Action: Using Options To Play Housing Bottom
- Bold Call Of The Day – Microsoft
- Hold 'Em Or Fold 'Em
- Off The Record w/ Charlie Gasparino: Bank of America
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Trader disclosure: On June 15th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Seymour Owns (AA), (BAC), (BX), (EEM), (FXI), (TTM); Seymour's Firm Owns (NOK); Seymour's Firm Owns (TKC); Najarian Owns (BX) Call Spread; Najarian Owns (FCX) Calls & Put Spread; Najarian Owns (GE) Calls; Najarian Owns (INTC) Call Spread; Najarian Owns (MOS) Put Spread; Najarian Owns (PALM) Calls; Najarian Owns (WNR); Najarian Owns (S) Calls; Terranova Owns (TER), (SDS), (ABT); Terranova Owns (RIMM) & Short (RIMM) Calls; Terranova Is Short (RIG); Terranova Owns (BRCM) & Short (BRCM) Calls; Terranova Owns (MS) & Short (MS) Calls; Terranova Is Short (FCX); Terranova Owns (GENZ) & Short (GENZ) Calls; Terranova Owns (HES) & Short (HES) Calls; Terranova Is Short (XOM) Call Spread; Terranova Owns (DIS) Call Spread; Terranova Owns (X) & Short (X) Calls; Terranova Owns (JPM) & Short (JPM) Calls; Terranova Owns (BTU) & Short (BTU) Calls; Terranova Is Short August Gold Futures; Terranova Owns (POT) & Short (POT) Calls; Terranova Is Short Septmeber Oil Futures; Terranova Owns December Oil Futures; Terranova Owns August Nat Gas Futures; Terranova Owns (IBM) & Short (IBM) Calls; Terranova Is Short (OIH) & (OIH) Calls
Patricia Edwards Owns Wal-Mart (WMT) and Costco (COST)
Data is a real-time snapshot *Data is delayed at least 15 minutes