Stocks mixed on oil, financials, and economic data this week
Wall Street started the week mixed, as the lower price of oil was overshadowed by weak economic news. The financial sector put pressure on the U.S. markets on Tuesday, and Wednesday the Dow hit a three-month low, on weak results from FedEx and continuing concerns in the financial sector. Wall Street closed slightly higher on Thursday, as weak financial stocks outweighed falling oil prices. Energy and financial stocks took the TSX higher at the beginning of the week, and landed at a record high close on Tuesday. Wednesday saw the TSX slightly higher on oil stocks, but the energy sector triggered a triple-digit TSX loss on Thursday. Both the Dow and the TSX saw triple-digit losses on Friday. The Dow was down 220.40 points to close at 11,842.69, while the TSX fell 209.48 to close at 14,580.67.
Monday…
A green diesel process could prove a breakthrough versus biodiesel, Dan Sweeney said.
In Micro-cap Monday, Danny Deadlock reported on buying $10/ounce gold, and jumped back on the International Datacasting bandwagon.
William Patalon III wrote that investors watch as inflation dominates the spotlight: the Fed is poised to hold or raise rates as inflation specter looms.
Robert Arber, Stockhouse editor and reporter, interviewed SH member littleguy123 about a recent tour of a junior gold company’s mine site, after that member’s posts on the company’s SH Bullboard led to an invitation from the company’s CEO. Read part I of the interview here.
From the news desk of 24/7 Wall Street: a biopharma was an attractive M&A target for large drug companies, a biotech succeeded with a prenatal Down syndrome drug, a biotech stock plunged, shorts sank their teeth into fiber firm, and short sellers beware of RF Micro Devices.
In part II of the Silver Wheaton Valuation Method, SH member Douglas M. Dillon looked at valuing Aurcana Corporation.
Luke Brocki wrote about the continued worldwide interest in nuclear power, and McCain’s attack against Obama’s energy policy.
In today’s market report from CMC Markets, Colin Cieszynski said that precious metals asserted themselves on the TSX this morning, and once again the Canadian and U.S. equity markets headed in different directions.
Vic Wisemann of Investors Observer asked: Can you really profit from the trade deficit?
Dr. Joe Duarte questioned whether Apple has formed a double top, and notes that investors are showing concern about Apple’s CEO’s health issues.
In the Weekly Wizards, a Q&A with Jack Steiman of SwingTradeOnline looked at whether the market is carving out an unexpected bottom in June.
In the Mid-day Minute, a financial fund was looking stronger.
In part III of a series of articles from the Macroeconomics group, SH reporter Robert Arber, along with SH members littleguy123, arnoldj, frontline_jason, and StilesBC, addressed the question of how to measure money supply growth.
SH member Ken Watson wrote about a resource company that is betting on vanadium.
David Petch reported on why the mainstream financial press gets it wrong.
Then on Tuesday…
Dan Sweeney said that cellulosic ethanol could be commercialized, and reported on an alternative energy company that is testing a new process in a California pilot project.
In the morning market report, Colin Cieszynski of CMC Markets wrote that equity markets rebounded while commodities reacted to possible economic headwinds.
From the news desk of 24/7 Wall Street: a biotech may start to benefit from positive news, an alternative energy company was in a good position, a rheumatoid arthritis treatment put a biotech in the spotlight, a resource company was on BusinessWeek’s fastest-growing list, and a data company stock was a sell.
In part V of a series of articles from the Macroeconomics group, SH reporter Robert Arber, along with SH members littleguy123, frontline_jason, and gabrielgray, looked at the Derivative “Death Star”, as derivative game players grab for dollars when the music stops.
In Tuesday’s Mid-day Minute, there was a new upleg for the UltraShort China ETF.
Darryl Robert Schoon looked at paper money and paper tigers, and asked: Who are the Bilderbergers?
SH member and blogger Diopside reported on Marifil Mines’ potash discovery.
Dr. Joe Duarte also looked at the UltraShort China ETF, noting that Chinese stock markets are likely to continue to falter.
On Wednesday…
Steven Saville looked at the problems that arise from the government’s and banks’ abilities to inflate the supply of money, and questioned whether going back to gold money would solve those problems.
In part II of Robert Arber’s interview with SH member littleguy123 about a recent tour of a junior gold company’s mine site, littleguy123 revealed more about what he learned on the tour. Read part I of the interview here.
Nathan Lewis said that commodities prices are low when measured in gold.
In the Mid-day Minute, gold was wedged between support and resistance.
From the news desk of 24/7 Wall Street: a GPS chipmaker cooled alongside the market ardor for GPS, a commercial construction firm projected a big revenue jump, and a newspaper publisher was a good short sell.
The Homebuilders ETF raises questions about the sector’s future, wrote Dr. Joe Duarte.
In the market report from CMC Markets, Colin Cieszynski noted that U.S. equity markets continued their slide, while intriguing technical activity was happening in the Canadian indices.
On Thursday…
Martin Hutchinson reported that Obamanomics have stumbled on the Achilles’ Heel of government spending.
Preet Banerjee looked at how to reduce the cost of portfolio insurance, with background on the equity collar and by using the reverse dispersion strategy.
Oil service stocks are prepared to surge, Dr. Joe Duarte said.
The Stockhouse macroeconomics group looked at oil supply and oil demand, and noted that oil is not in a bubble, contrary to what some may think.
Colin Cieszynski of CMC Markets said that equities retreated on soft U.S. economic data, in the market report.
In Thursday’s Mid-day Minute, a recovery rally was approaching for the S&P 500.
SH member Gabrielgray responded to an article from F. W. Engdahl, taking his oil speculation theory to the woodshed.
Dudley Pierce Baker provided a commentary written by one of his subscribers, Charles Cohen, that compared Warren Buffet’s Berkshire Hathaway to Goldcorp, and questioned whether Buffett is really the oracle that he’s made out to be.
Finally, on Friday…
Nancy Zambell of Financially Fit looked at Roth IRAs and recommended contributing regularly in order to make your retirement years all that you wanted them to be.
Keith Fitz-Gerald reported on the connection between poor presidential approval ratings and the stock market.
SH member Jason Moschella gave a critique of oil prices.
Colin Cieszynski reported that the equity markets are sliding heading toward triple witching hour.
David Galland of Casey Research looked at the bursting commodities bubble.
littleguy123 wrote that U.S. regulators are facing a moral hazard – again.
Malcolm Haynes, SH member, took a turn on the home page, with his article titled Stock options as performance incentive: Good or bad?
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