Trade of the Day: Harsco Corporation (NYSE:HSC)

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Our indicators are giving bullish readings this week, a significant upgrade from last week’s bearish readings. The 400-point decline we saw last week on the Dow Jones lasted just one day before reversing to make up all of those losses over the next five sessions, and that was a bullish sign. It seems the market is stronger than we think it is, especially considering the turmoil all over the world.

There is also still the hope that we will still get health-care and tax-reform bills, but those have clearly stalled. I think we probably won’t see those until 2018, if at all, but I do think we’ll get corporate tax reform at the least. Basically this hope is the new “put” under the market, acting as protection against any large declines.

Given the bullish circumstances, today I’m recommending call options on an industrial stock, Harsco Corporation (NYSE:HSC), which operates in both mining services and manufacturing.

Buy to open the HSC Jul 15 Calls (HSC170721C00015000) at $0.70 or lower.

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