Indices were all set to fall based on overbought condition & GOOG miss, but buyers emerged in the closing minute in heavy volume.
S&P 500 closed @ the absolute high of the day @ 1315.38.....low today was 1309.17
CMF is 0.498...highest level in months, good sign of money flow in markets.
Nasdaq was barely down @ .06%
Oil closed @ $98.46
Gold closed @ $1664.00
Canadian $ closed @ 98.70, down 18 tick
VIX got hammered, down 8%, closing @ 18.28.......52 wk low is 14.27...this is a tell tale of the strength of this bull market.
In my portfolio :
Bought AMZN @ $190.73
Bought CLF @ $72.00
Bought RIMM @ $17.12
Portfolio is AMZN,CNQ,CLF,RIMM,RVBD
Here is my portfolio weighting :
AMZN 31.34%
CNQ 18.39%
RVBD 17.52%
RIMM 16.75%
CLF 16.01%
Allocation is 85% vs 140% day before......
Stocks which closed green, included....MOS,NTES,GG,VMW, FFIV,SLW,APKT,MS,JDSU,CRUS,ARUN.......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
Current portfolio is as follows:
WWWW - 20.18%
MET - 11.34%
WPRT - 11.09%
RVBD - 10.35%
GLNG - 9.72%
APKT - 8.42%
CF - 8.32%
GHDX - 7.44%
OCZ - 7.24%
GWMGF - 3.35%
APWC - 2.53%
(cash) - 0.02%
I like low volume stocks in a firm uptrend--I think this indicates legitimately undervalued stocks in a lot of cases. Other than that, I think the natural gas story could be the biggest of 2012, so I am focusing on that a lot in my portfolio. I'm also still looking at some chemical stocks for that reason even though I added CF today for a similar reason. I'm also still looking at homebuilders/building materials and financials although both have had big runs.
The market certainly seems due for a pullback, but holding your breath for one might make you pass out. I'm trying to stick with stocks that I can think trade independently or outperform.
Have a great weekend! :)
Stocktrader
Hi Stocktrader,
My knowledge base is confined to few sectors which i have repeatedly traded.
Can you suggest some names to study in Nat Gas which has hit 10 year low today..i only know ECA...
The logical question is who can make money when Natural gas is so low & how?
I have WPRT in my TOP 16 watch list..i restrict my monitoring to no more than 20......
Market is certainly defying known oversold conditions.....straight line UP always scares me..so staying nimble but involved.
Saleem
Hey Saleem,
Some of the cheap nat gas beneficiaries I routinely check are as follows:
GLNG (nat gas shipper)
ETP/KMP/EPD (nat gas pipelines)
LNG (future nat gas export terminal)
WPRT (nat gas engine maker)
CLNE (nat gas fuel stations)
CF/some AGU (fertilizer w/nat gas as input)
DOW, GGC, WLK, EMN (chemicals w/nat gas as input)
In general, a lot of the chemical companies use natural gas as an input. For the moment, only US natural gas is cheap, which is important to remember.
I hope this list is a good starting point.
Stocktrader
Hi Stocktrader,
Thank you so much for your detailed & categorized list.
Tremendous info.
Saleem
Stocktrader:
here is the FOOL's best energy plays: I own several
Hope this is of some benefit to some one.
Company
YTD Return
1 Golar LNG (Nasdaq: GLNG ) 208.7%
2 Cabot Oil & Gas 106.3%
3 El Paso 92.0%
4 Southern Union 79.8%
5 EV Energy Partners LP (Nasdaq: EVEP ) 76.7%
6 Atlas Energy (NYSE: ATLS ) 65.6%
7 Parker Drilling 63.0%
8 Delek US 60.2%
9 Hornbeck Offshore Services 57.8%
10 Targa Resources 57.5%
11 Atlas Pipeline Partners (NYSE: APL ) 54.8%
12 Cheniere Energy (AMEX: LNG ) 54.2%
13 Newpark Resources (NYSE: NR ) 53.4%
14 ONEOK Partners 51.9%
15 Kodiak Oil & Gas (NYSE: KOG ) 50.0%
Best to all:
C
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