It’s breaking out again. They raised capital to increase their stake in the Marcellus Shale play in the Applachian Basin. This is a potentially lucrative area for natural gas, in addition to oil.
The stock is trading at a 12% discount to NAV, based on present value of proved reserves and a reasonable estimate of probable reserves using $70 oil and $7.50 natural gas.
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Consumer Staples [[XLP]] Neutral. Demand starting to come back into the sector, but no new buy signal as of yet. Momentum has been negative for the past four days and the past week. Relative strength weaker than the market.
Consumer Discretionary [[XLY]]: Bearish. Weekly momentum has been negative for the past four weeks, and negative on a daily basis for the past two days. Relative strength weaker than the market.
Energy [[XLE]]: Neutral. Strong potential to be range bound. No new buy signal, or sell signal. Weekly momentum has been negative for the past 2 weeks, but positive the past five days. Relative strength stronger than the market.
Financials [[XLF]]: Bearish. Sell. Continuing deterioration. Weekly momentum has been negative for the past three weeks. Daily momentum negative the past four trading sessions. Relative strength weak.
Health Care [[XLV]]: Bearish. Double bottom breakdown pattern. Momentum negative the past four days, but positive the past nine weeks. Go figure(?). Weaker RS than the market.
Industrials [[XLI]]: Neutral. Slightly bullish low pole reversal PnF chart pattern. Momentum has been negative the past four days and three weeks. Stronger RS than the market since March.
Materials [[XLB]]: Bullish. Double top breakout still intact. Has broken out to new highs after long period of consolidation from 39 – 42, but has pulled back recently. Strong support at 41. A drop below 43 confirms a reversal of the current bullish trend. Momentum postive the past five days, but negative on a weekly basis , the past three weeks. Stronger RS to the the market since last September.
Tech [[XLK]]: Neutral. Consolidating. Bulls trying to push higher. PnF buy signal will be confirmed at 29. However, momentum negative the past four trading sessions and on a weekly basis, negative the past one week. RS weaker than the market in general.
Utilities [[XLU]]: Bullish. Most bullish sector. Breaking out of a double top after period of consolidation. Good support at 40. However, momentum has been slowing recently, and has been negative the past week. Relative strength slightly stronger than the market.
Telecom [[IYZ]]: Bullish low pole reversal pattern developing. Demand coming in. Daily momentum has been positive for the past nineteen days.
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Leveraged Inverse ETFs:
Top Sectors Buys: [[SKF]], [[SZK]], [[SCC]], [[SSG]], [[SRS]]
Staying away from index ETFs.
NOTE:
NYSE Bullish Percent Index: Currently 54% of stocks on the NYSE are showing a PnF buy signal—still bullish. Also, 48% of NYSE stocks trading above their 10 week MA. The market is not overbought yet.
Market trend is still bullish, despite last weeks action.
Disclaimer: This information is not intended to be used as the primary basis of investment decisions. Because of individual investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial advisor prior to taking any actions. The information and opinions contained here are those of the author and are not necessarily the same as those of iBankCoin, its principals or its affiliates. The author may have a position in one or more stocks mentioned here. Trade at your own risk.
Egregious! This was sent to me from a friend who got an email from a guy that bought a GPS from [[BBY]], and wanted to return it. They charged this guy $45 to return a $300 GPS.
From the Best Buy web page:
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Basically, any stuff you find underground should be bought, caveman-style. This is the theme, as evidenced by oil, coal and even gold and silver.
If you have to dig for it, buy it.
I’m particularly impressed by the dirty coal miners, [[PCX]], [[ACI]], [[MEE]], [[CNX]], to mention a few. Hell, even that bullshit [[JRCC]] is up today. Appropriately named, my favored stock in the group, [[ANR]], has decided to join the party and continue up again.
Whether it’s black and dirty or clean and shiny, the market is gravitating to it. (Fucking dirty, rich bastards.)
Although these stocks are in “overbought” territory (which is subjective), they have a lot of mojo and could add alpha to your account.
Oil and coal are the new tech stocks. Who knew?
Update: off to drink a couple of Alaskan Ambers and grill a 2 1/2″ ribeye over charCOAL. Even though the market is down, why not celebrate? The eagle shits on Friday.
Disclaimer: This information is not intended to be used as the primary basis of investment decisions. Because of individual investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial advisor prior to taking any actions. The information and opinions contained here are those of the author and are not necessarily the same as those of iBankCoin, its principals or its affiliates. Trade at your own risk.
Comments »Well, we’re giving back everything we “earned” yesterday. The market is a casino for Southern-style riverboat gamblers who wear straw hats and smoke corn cob crack pipes.
Remember if you’re going to play the market, play responsibly.
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Added: Spectra Energy (06/02/08) @ $26.64. There were no other additions or deletions to this particular group of focus stocks since last week.
Yesterday’s action catapulted this focus group of 23 stocks up by 5.42%. The equally weighted group of stocks is now up 11.03% since May 12th.
Performance: (since 05/12/08)
Alpha’s +11.03%
S&P 500 +0.03%
Dow -2.11%
Naz +2.47
Top three winners:
CLR +34.37%
EAC +31.40%
MEE +23.56%
Top three losers:
SGY -1.43%
SE +0.86%
AKS +2.10%
Sector allocations: Energy 38%; Materials 34%; Industrials 16%; Info Tech 7%; Consumer Discretionary 4%.
Holdings: (current prices as of 6/5/08) and original purchase prices:
(AGU: 93.02 +5.19%)@86.26
((AKS: 70.49 +5.68%)@68.99
(BIG: 32.40 +3.05%)@ 29.05
(CLF: 108.80 +6.67%)@89.40
(CLR: 69.81 +7.05%)@51.90
(CNX: 104.55 +5.84%)@91.41
(EAC: 73.02 +8.39%)@55.52
(FDG: 80.95 +1.89%)@69.30
(FLS: 137.02 +1.89%)@121.10
(FTI: 77.43 +6.26%)@75.48
(GLW: 27.13 +1.84%)@25.74
(MA: 306.16 +2.95%)@291.75
(MEE: 72.35 +6.92%)@58.50
(MOS: 134.42 +4.41%)@126.98
(MTL: 55.04 +7.42%)@52.11
(PBR: 68.53 +4.79%)@65.55
((POT: 218.85 +5.02%)@199.26
[[SE]]@ 26.64(SGY: 66.47 +5.83%)@67.39
(SID: 49.65 +6.32%)@47.44
(TTEK: 27.14 +4.75%)@ 24.92
(WFT: 46.30 +5.90%)@41.99
(WLT: 95.19 +7.14%)@83.87
Disclaimer: This information is not intended to be used as the primary basis of investment decisions. Because of individual investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial advisor prior to taking any actions. The information and opinions contained here are those of the author and are not necessarily the same as those of iBankCoin, its principals or its affiliates. Trade at your own risk.
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