Taking advantage Oil Price weakness

Oil has declined to 110, expect strong support here before it goes lower to 100. Here are some stocks that I am expecting some decent moves.


FDX - Expect a 6 point move to 88, take half a position off if you want to continue holding for a breakout. The next few resistance levels are expected at 87, 92, 97. Earnings for FDX is at 18 Sept, I wouldn't bet on earnings but I am expecting a small rally prior to earnings.



CNW - A trucker company which uses fuel.... ;). A break above 50 should signify a buy, expect a 5 point move. The options are pretty cheap at the moment. If target is hit, we should be expecting a 300 % profit.



CMP - Expect an 8 point move once it breaks down the support at 66.4. You can take an anticipatory trade when the market opens. Target price 58.9 - 60.