COPYRIGHT TRADERVSMARKET @ 2009
Friday, June 12, 2009
BANK OF AMERICA READY TO BREAKOUT - UPGRADE TO BUY
Bank of America (BAC) has been idle for a month now. The stock appears to have found its footing closing up a dollar to $13 yesterday on CEO Ken Lewis' testimony to Congress. The Street has embraced BAC as one of the big bank survivors who has solid growth ahead. BAC 120 day price target $20 per share.
Thursday, June 11, 2009
CLIFFS NATURAL RESOURCES (CLF) - UPGRADE TO STRONG BUY
The Cliffs (CLF) momentum was broken after they announced secondary offering to raise capital last month. Since the offering the stock has picked up nicely were it left off. As Americas #1 iron ore producer it has grossly underperformed its rivals like Rio Tinto (RTP) & pellet customers like US Steel (X).
Irrespective of recent iron ore price cuts by oversees competitors, its not demand driven & Cliffs will be able to assuage there balance sheet through the spot market. China, the worlds largest steel producer has been holding out for further cuts to 2007 levels. Continued consolidation in the iron ore space bodes well for Cliffs as takeover target by China. CLF 90 day Price target, $57 per share.
COPYRIGHT TRADERVSMARKET @ 2009
Wednesday, June 10, 2009
FED BEIGE BOOK SAYS RECESSION MAY BE MODERATING
Labor weakness persist. See link above.
COPYRIGHT BLOOMBERG @ 2009
AGRICULTURAL LEADERSHIP!
The market is looking for leadership. The Ag sector seems to fit the bill for steady growth. Fertilizer & demand worldwide is not letting up. Stochastics are indicating another leg up for names like Potash (POT), Mosaic (MOS) Intrepid (IPI) & Agrium (AGU).
COPYRIGHT TRADERVSMARKET @ 2009
Tuesday, June 9, 2009
INTRADAY REVERSALS...SIGN OF A HEALTHY BULL!
It doesn't get much better than a intraday swing after an early sell off. Now is the time to take up positions in under performing sectors as this market moves across Dow 9,000. Sectors like: Coal (ACI, PCX), Solar (SPWRA, SOLF, STP) Metals (CLF, FCX) & Industrials (FLR, JEC, AKS, X)
COPYRIGHT TRADERVSMARKET @ 2009
TREASURY SECRETARY TIM GEITHNER SPEAKS TODAY AT 10:30 AM
Expect further profit taking today. Buy the dips; a healthy 5% pullback on the Dow to around the 8382 mark from yesterdays high of 8824 would present a decent stop-limit to buy back any oversold sectors.
COPYRIGHT TRADERVSMARKET @ 2009
Monday, June 8, 2009
CISCO & TRAVELERS OFFICIALLY REPLACE GM & CITI ON THE DOW TODAY >link
see link...
Sunday, June 7, 2009
A LOOK AHEAD AT THIS WEEKS ECONOMIC CALENDAR >link
Noteworthy Data:
Monday 12:30pm - FOMC Member Tarullo Briefing
Tuesday 10:30 am - Treasury Sec. Geithner Speaks
Wednesday 10:30am - Oil Inventories (Build in inventories expected, Crude Closed at $68.34)
Wednesday 2:00pm - FOMC Beige Book Report
Thursday 8:30am - Retail Sales & Unemployment Claims (Both reports expected to show improvement)
Friday 9:55am - Consumer Sentiment (Revisions show improvement but consumers remain cautious with spending)
Best of luck on your decisions this week. I say buy the dips through Dow 10,000.
COPYRIGHT TRADERVSMARKET @ 2009
COPYRIGHT LINK FOREX FACTORY @ 2009
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