Went Long AGM Federal Agricultural Mortgage Corp

I just went long AGM Federal Agricultural Mortgage Corp. at 15.46.  I like the longer term chart setup, the recent breakout on confirmed high volume above the previous swing high and the recent tape action.

Generally speaking I think there is a lot of promise in the agriculture sector going forward and feel that AGM is a good indirect way to play this sector for now.

Ultimately I am looking for a break through of the 16.50 range which represents a long swing trading range area and would be quite significant to see a break through above this area and possibly imply an eventual move back up to the old swing high of 23.89.

Posted in Stock Picks

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