Frontline (FRO) NewsBite - Frontline Climbs as Oil Rallies

Posted on Wednesday, August 27, 2008 3:25 PM

Frontline (NYSE: FRO) opened at $58.17. So far today, the stock has hit a low of $57.74 and a high of $60.25. FRO is now trading at $59.83, up $3.23 (5.71%). The stock hit its 52-Week high of $72.36 in June and set its 52-Week low of $34.00 in January. Shares of oil tanker operators have been climbing today as the price of crude jumped on concerns surrounding Tropical Storm Gustav and current inventories. Technical indicators for the stock are neutral and S&P gives FRO a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on FRO the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]

Stocks To Watch Today: GE, XTO, TM, GM, KEY, APC, NUE, JCP, DE, CAM, KLAC, NOC (Click Symbol For Latest News)

Enter your email address below and Click on the [Sign Up] button to receive our exclusive daily Morning Market Update plus a FREE password for access to the news, insight and intelligence that can make a difference in the way you invest.

eMail Address:

del.icio.us

Portions of this content may be copywritten by Fresh Brewed Media, Wall Street Secrets Plus, Investors Observer, VHS, LLC., and RealTimeTraders.com. SmartReadMX and related technologies are covered by US Patent Office # 60/631,747.