Tag Archive
Calling the Bottom for S&P at 800
The S&P 500 index fell another 8% this week and now sits near 6 year lows. But unlike the last market crash from 2000-02, this market is not expensive. The heavy selling has nothing to do with lofty valuations, instead, a weak economy, slowing growth, and fears of a recession are whats driving investor... »
Transocean Nearing a Key Support Level After 16% Drop.
Transocean (RIG) is down 16% over 9 consecutive days of red. $97 is a key level of support and I am watching that carefully. Fundamentally, there is no reason for the company to go down. Toby Shute of the Fool.com said it best: “For the first time in the company’s history, the overall fleet earned... »
Transocean’s Gap Covering Is a Bullish Signal
Transocean (RIG) spiked 5% at the news of its potential merger with GlobalSantaFe (GSF) last week, but 4 days after the news, the stock is now back at pre-news levels. This is surprising considering that all the big oil companies shared one consistent theme wen they reported earnings last week – that production was... »
Stock Shopping List for this Decline
GS, NMX, NYX, YHOO, AAPL, RIG, ATVI so far. Will add more everyday. »
Down Market Was Predicted and it Finally Happened
Back on February 7th, in my post labeled Markets Marking Time, I said: Every month that the market moves forward gives me more reason to be less bullish. I am still cautious going into Feb and March and I recommend investors lock their gains before the selling hits – the market has to correct 5%... »
Create Your Stock Shopping List But Wait for Lower Prices
The market could go down further today, or even recover a little and then sell off. Most traders might use the slightest recovery to sell what they didn’t sell yesterday. After all, it is not everyday that 498 of the S&P 500 are down. Wait before you start buying and try to hold what... »
Oil Services Turning
Oil services stocks look like they are done going down. In fact, the last few days has seen stocks like Schlumberger (SLB), Baker Hughes (BHI), Transocean (RIG) and Gulf Island Fabrication (GIFI) form a nice looking bottom on steady upside volume. This is evident from the MACD cross-over in each of these. I like all... »
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