Today Dollar & $en$e takes a look at six oil and gas related companies and their historical performance in March. These companies span over three industries related to oil and gas: major integrated oil and gas, oil and gas equipment and services, and oil and gas drill and exploration. March has been a good month for oil historically with a 5.2% average during March for the West Texas Intermediate spot price since 1992. The biggest loss for WTI has been –7.8% and the largest gain has been 22.5%. Recently, oil has been even better with gains for the last eight Marches and nine out of the last ten. Here are the companies included in today’s research and the industry that each hails from:
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Market Opinion: After seeing both Wal-Mart and Dell miss estimates and a Greek bailout finalized…we have yet to see if the S&P500 will react as “sell the news.” On Tuesday we saw the market sell-off after the open and get bid back up quickly after 30minutes. Then as the S&P broke new lows of the day in the late Tuesday afternoon, buyers stepped in once again for a small closing rally. In the end the price action was quite mundane on the S&P, but the bidding on the lows was telling that this market has a lot of support and wants to continue higher (regardless of my opinion). Thus today we entered a Feb’24 SPY 134/133 bull put spread as a hedge against our existing Feb’24 136/137 bear call spreads. We have yet to see how both positions play out later this week. As for new bull put spreads I’m looking at EOG Resources (EOG) and Baidu (BIDU). I am willing to play the market to the bear side once again, but I’m going to need to see a convincing sell-off (one where Apple falls).
Continue reading “Giorgio’s Corner – Trading BRIC Stocks” »
Market Recap: The market was fairly flat to start out the week after the long weekend. The big news for the market was that Greece got their second round of bailout money. The issue for many though is that we question whether the bailout really can do what people expect. Europe is modeling that the country will return to positive GDP by 2013. With 2-3%+ growth by 2014. We are not positive that this model is approriate. Further, the country is still in the same awful situation. A bailout does not address economic issues in the nation. To many, the bailout is a kick the can down the road move. Yet, the news will shift to other news now that actually may be more bullish like data here at home.
Moving through the rest of the week, we have a fairly quiet week that could lead to a fairly flat market with any dips being bought and moves higher being sold. The Greece situation will start to be less important. Eyes will start to turn to Iran, the American consumer, unemployment, and general data. For this week, we have new home sales on Friday. We also will get initial jobless claims on Thursday. Yet, the market does not look like it will move a lot. What will?
Continue reading “Stocks To Watch, Where Next For The Market: February 21, 2012” »
The market opened slightly stronger on news out of Greece that they will be getting their second round of bailout from European finance ministers and countries. The country seems for the time being to be kicked down the road, and while perhaps we may not rally strongly on the news, Greece fear will exit the market as the story dims in its light. Attention can now be averted to other stories, such as Iran, other European nations with problems, and our own story here at home. This drive away from Greece can be good and bad.
At home, we did get solid news from Home Depot on their earnings as the stock continues higher. Wal-Mart, on the other hand, beat expectations but saw margins dip and profits dip. On the economic calendar front, we did not have any economic reports today. We have existing home sales. Thursday is the big day with initial jobless claims, crude and natural gas inventories, and the FHFA Housing Price Index. Finally, we wrap the data up on Friday with Michigan Consumer Sentiment Index as well as New Home Sales.
Overall, it looks to be a more quiet week with data more limited, Greek headlines taking a backseat, and earnings coming to a slow. Various headlines will be more impactful that seem to have less magnitude. Additionally, we should be wary of Iran's ability to control our markets. Risk-on trading and bears will be looking for the next story. Iran could be it.
Current Positions:
Continue reading “The Oxen Report: Greece Gets Life Raft, Home Depot Strengthens, Wal-Mart Weakening” »
Earnings season is coming to a close, and we are starting to take a look at the companies we cover in our EquityAnalytics department. We are updating price targets and upgrades/downgrades for our 125+ companies we cover. Today, we are looking at the following companies from our coverage - Changyou (CYOU), DR Horton (DHI), Ryland Homes (RYL), SAP (SAP), Standard Pacific (SPF), and Under Armour (UA).
