However, the previous months were adjusted higher by 39k too.
I see this as a buying opportunity if there is going to be a pull back to 11250 (the support level).
Stocks to buy include FINANCIALS, Materials, Service.
BAC, JPM, WFC, PNC, STD, FAS
AA, CLF, X, MT, CENX
MGM, BYD, LVS
The poor NFP report only help support the FED’s decision to do their money printing scheme. So the TEPPER trade might be back as investors speculate that the FED is going to print more and more money.
And the DOW daily chart shows another cross over of the MAs. This is a bullish signal that happened 2 months ago too.
My Lunch.
3 comments:
What do you make of STD?? Frankly I don't know whether to jump in or not with Europe in waiting for the other shoe to drop (Spain). Long term the stock is a solid gainer but short term this stock can drop alot more....Just rambling here and seeking opnions.
Cheers
And C ? with financials not you got in mind?
C is good. But being a trader, I prefer to trade stocks that move. C stock price is too low (4.40)... it doesnt move much during the day, while stocks like JPM moves during the day.
I am not trying to say C lacks volatility. In fact C is more volatile as a 1 cent movement is huge.
But you cant really trade with C. It is more of an investment.
I think STD is great because most investors are pricing in a Spain collapse and the chances of that is not that high.. I think Spanish banks are solid. STD is going to IPO its UK operations, and everything in south america bodes well for STD.
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