With the market getting blown around in the winds of turmoil, I was surprised to find some relatively calm action in Clean Harbors, Inc. (CLHB). Check out the strong price action...
Chart Courtesy of Thomson Financial
The support zone near 55 is one that we discussed last month. At the time the stock was breaking out amid little fanfare from the Street and I said -
"Given the strong uptrend...I would say this lack of a attention on CLHB is a potentially encouraging sign. It would seem there are still plenty of investor out there who have yet to 'find' this stock."
A look to the updated open interest configuration chart to the right (or found here) shows expectations still appear to be low. The stock has pushed above the (light) peak front-month call strike at 60 and there are few bets above that. Looking past the March series shows nothing overhead in future months either.
In the end, I would have to stick with my original assessment that it seems there are still plenty of investor out there who have yet to "find" this stock. Given the chart below, which shows the performance of CLHB compared to the S&P 500 (SPX), I think anyone who does find the stock might be impressed.
Chart Courtesy of Thomson Financial
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