http://www.kenniffonline.com/bp-profits-2009/
Banking shares February 18, 2009 on Wednesdays
The Dow30 moved lower, but not a decisive decline and sharp as we wanted. Nor have
increased the volume of operations yesterday. So it is likely that the rebound will be low today
lethargic and weak. The Nasdaq is still more Dow30 stronger than the S & P 500
indices for technology stocks as a group have done better.
All eyes are on the actions banks like USB, WFC, JPM, and even C. These offer the greatest daily charts
USB potential benefit remains the first choice. Trading volume on USB has been disappointing, because
would have been ideal to see a higher volume today than yesterday, at least 60 million or 70 million
shares traded today. This indicates that the rebound will be weaker, but still must go.
There is yet another opportunity to purchase a total or partial position in the USB, USA Bancorp morning but
preparations which may collapse and head down before hitting the mid-$ 13. It would be unwise
try at any time under these actions bank after the peak and head down, but consider taking
their long-term benefits (which can only last for 2-5 days before losing steam) and sitting in the margin after that.
Remember that it is the guerrilla war in this market and any benefits, such as USB-commerce potential
excellent in this market and the timeframe.
We saw the USB low was $ 10.09 today and quickly took a turn for the intraday chart
8:00 a.m. ET Pacific and went straight to $ 11.54 about an hour later. That was an outstanding rebound
intraday scalp if that was the technique that was used. USB gave a profit of 14.4% in the potential for 70
minutes while WFC also had a great fall and big pop from 12.4% today. Both actions must remain
to move over the next few days, but with high volatility as the actions are displayed in a lower or higher.
Note that WFC Wells Fargo is following the same pattern in both USB and intraday charts per day,
yet.
Oil prices has not made new lows, although some populations have been selling oil. Still looks
as it goes through a process of collapse and if oil stays above this level $ 33 and moves upward,
gas reserves of oil and must be moved upward. Keep watching the independents as XTO, APA,
APC, EOG, COG, HAL, RIG and many others is likely that before the first movement of large oil reserves
as XOM, BP, CVX or COP.
Intermediate Trade Positions: New ideas: BTU, Peabody Energy is worth a small long position.
This can reduce drift a couple of days so there is no immediate rush to buy time.
The stocks of chemicals and increased ag-invested today with MOS and AGU doing well. This should
be treated as a swing trade for investors more cautious or a longer time period that could last
months of investors with a higher risk tolerance.
REPEAT: Commodities have been making a gradual upward trend of the past three
month and looking to step onto.
Swing Trades: XTO, XTO Energy is one more little trade idea BTU short term mentioned above. Us
just looking for a profit of 10-12% in the next week or two.
WFC, Wells Fargo Bank is a sharp drop in this state in recent weeks and is likely to move upward. This reached a
low of $ 12.06 today and picked up 12.4% off the bottom. There is still time to buy long ago
even if the population of a little empty at the opening to $ 13.50. This is going to be very volatile so start with
small positions, as usual.
Day traders / day trading ideas: We saw some real opportunities great with
intra-day trading today, especially in banking stocks. Stocks may have a shallow drop, but a
is stronger move upward if tomorrow especially if the whole market is moving a few
day. Continue to watch ICE, BLK, CME, POT, MON, MOS, AMZN, AAPL, FSLR, Bidu, USB,
WFC, JPM, and any high-volume, high volatility stocks.
NOTES: Even if the market does what it predicted and it is a movement rally that lasts only a
few days, trust the market is becoming a rising market. It is very likely to
what we call a rally against trend in a bear market. Meaning, the market is still in a bear market
and has a downward trend but powerful recovery can be seen within that trend downwards. This is what
we are trying to take advantage of this moment with banking stocks and other sectors.
I am still waiting for any kind substantial demonstration in the stock market this year driven mainly by the massive
stimulus that has been poured into the system rather than the stimulus planned package now being proposed. long
term, however, a couple of years down the road, no doubt, the taxpayer will have to pay for such high debt
amounts that the U.S. government (And other countries) have acquired. So tax rates will likely increase in coming years,
the interest rates probably will have to increase the areas of inflation and probably the bear market resumed at any time by
road. But it need not be stuck in a miserable cycle as most investors. With the techniques and approach to the
market, we can still grow.
If you have been uncomfortable shorting stocks, which are most people, learning to get used to it, this will be a useful tool
the next years.
When I list several towns in the same sector as the housing industry for example, does not cut all unless
well diversified and represents a small percentage of its total stock account (same account).
REPEAT: Keep an eye out for biotechnology companies, they are building momentum and often do so in January
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Business update: BP profits plunge