← Autodidact Archive · Original Dissent · JoseyWales
Thread ID: 19045 | Posts: 2 | Started: 2005-07-08
2005-07-08 16:19 | User Profile
Markets seem to be in a funk, rangebound and not very clear on direction, at least short term. However, im starting to see a little light at the end of the tunnel at least on the nasdaq today. Upper resistance is around 2100. The cboe oil index is climbing, but several oil stocks im looking at seem very top heavy, and due for a little pullback, yet show no signs of real weakness yet and this is actually bullish.
2005-07-13 04:42 | User Profile
Big oil is going to wind down on a share price level until the late fall. Because it is known and will be maintaned somewhere around 50/barrel. Recent news about a USA troop withdrawal coming from Iraq in December 2006 is stopping the oil rise, politically. I liked the big oils about 5 months ago, but not now. The reason why I bought and recommended a couple small domestic drillers is because they are undervalued and in the next 10Q will show mega profit, attracting new investors. Especially being domestic only. Right now the market is trying to figure out how much real estate can go down. A lot of money has already been shuffled out of real estate and back into the stocks. But we are taking a breather. I anticipate no serious general action until the fall. In truth, I only pay attention to the general market as a kind of sympathy indicator. I much prefer and do choose individual companies who I believe will reach gains in short term regardless of the general market environment.