Indices fought their way back from negative open, by close only Dow was slightly down.
Nasdaq & S&P 500 closed green again.
As i have said many times, strength of any market is based on how we close. For many days close has been impressive.
Internals were positive also as listed below :
UP volume led by 1.62 to 1 in NYSE & 1.61 to 1 in Nasdaq
Advancing stocks led by 1.23 to 1 in NYSE & 1.46 to 1 in Nasdaq
New 52 wk highs were in the lead again, 62 in NYSE & 45 in Nasdaq
VIX closed @ 21.04 barely UP 1.69%......looks very good for stocks.
Oil closed @ $100.87
Gold closed @ $1639.60
Stocks which had impressive $ moves included CMG,LVS,
VMW,CLF,FCX,NTES,FFIV,GOOG,CRM,TSL,C,WYNN.
Chinese inflation came in @ 4.1%, lowest level in 15 months.Came awfully close to 4% which was consensus & official expectations for policy matters.This will further increase the chance of easing.
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
16 comments:
S
good morning sir:
Looks like the employment numbers disappointed--I knew we could NOT sustain the December numbers....
Amazon is down as is our CNQ.
My play in copper is HOT SCCO
I do not own FCX but it is still hot till $50.
CSX is cold today no choo choo to day....I bought some FNFG and HCBK small ignored banks that pay to wait for upswing--sure to come...
C
Hey Saleem,
I am very close to buying another nat gas play like a WPRT. With prices this low, it just seems too easy to think these guys will do well.
Also, at one point in the past I tried playing DOW for weak nat gas prices and it didn't work so I didn't try this time around--I should have tried again! (I assume that's why it's rising)
Stocktrader
Hi C,
It is NOT a good morning on Wall & Broad St.......
Most stocks are down......
Saleem
Stocktrader
Hello to ya
I like to get the real deal when it comes to nat gas
EVEP, KMP. EPD, ETP, MWE
THe companies are all hurting with nat gas prices so low
will all come back once we sell it over seas-China, Japan
my .02 cents
C
Hi Stocktrader,
In Canada we have an ETF named GAS.TO which tracks gas prices..it is currently down 5.12%..a brand new 52 wk low....
Saleem
Hey c,
I don't see natural gas prices coming back at all, but I do think the pipeline plays should work well. I look more for growth plays so I probably won't participate, but lots of natural gas will be moving around this country in the future helping the profits of those pipelines.
Stocktrader
Hey Saleem,
Wow on WPRT--I ended up buying at 33.80 average. I wish I would have purchased when I first mentioned it! :(
Stocktrader
Hi Stocktrader,
Good luck with WPRT.....
My knowledge is zilch on pipelines..the only one i am remotely familiar is ENB...which is a Canadian company.
Saleem
Hey Saleem,
WPRT makes natural-gas engines. I heard a stat yesterday that a gallon-equivalent of gasoline in natural gas is only $1.25/gal. I think WPRT makes perfect sense he for that reason, plus the chart looks ready to breakout now.
The pipeline comment was in reference to c's EVEP, KMP, EPD, ETP, MWE (mostly noted for huge dividends, but likely will see decent growth also in the coming years).
Stocktrader
Hi Guys
The ones I mentioned are all MLP
the best of the pipe lines and EVEP
being oily and gassy
EVEP has got a gang buster play in fracking and shales
and pays to wait for gas to pop
hope this helps,
Oh KMP is kicking some serious butt on it way back to $85 again
C
Hi Stocktrader,
CNG powered engine is very popular in Pakistan...conversion is relatively inexpensive & savings are huge in operating cost.
WPRT has made it to my closely monitored TOP 17 watch list stock...thanks for your intro.
Saleem
SALEEM
CNQ is back up and so is LVS
Hurrah
Oh on an observation note; Politically nat gas is dead unless we get a Republican. Just a thought..
very best to all
Hey Saleem,
You're welcome :). Their recent JV with CMI makes me think there's a buyout chance too, and at worst is a great partner to have.
I am also looking at my old GHDX again. Their prostate clinical trial just started for completion in late 2012/early 2013. I don't know how biotechs work really with the timing of the buys, but this is a huge market opportunity.
Stocktrader
Hi C,
Yes CNQ & LVS are in green.....
I added CNQ this morning.
Saleem
Hi Stocktrader,
GHDX is your long time favourite.
I had a very bad experience with UBS..US Bioscience...had avoided this sector for last 18 years.
Appreciated your ongoing research for WPRT...I have SCCO in my Top 17as per C....
Saleem
Saleem
SALEEM
of interest?Bank of America has been the hottest stock in the Dow industrials so far this year and is now the second-hottest stock in the S&P 500.
C
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