Friday, November 28, 2014

Happy Friday!


Good morning folks, 
Hope you all had a fantastic Thanksgiving and you didn't eat too much. OPEC did not cut production yesterday, the result is oil getting absolutely punished WTI hitting four year lows. This is great for anyone that drives however it is not so good for the small oil producers in the U. S.. There is quite a bit of shellacking going on premarket. There is no reason to try and catch a falling knife in these names. 

I have dipped my toe for the long term hold account in a few names here and there. 
The difference is that these are not trades they are long term investments. I will look to add when I see the whites of peoples eyes. I recognize that these positions are going to be held for a very long time and I am not concerned with the  daily fluctuations. When I see some real panic and fear I will be looking to add. I know that I will not be able to enter at the exact bottom and I am not taking a large enough position to have any significant impact on my overall account even if the stocks were to go to zero. Names like HERO AAV MHR EXXI HK WRES RIG and even SDRL are on my radar. 

On the flip side the stocks likely to benefit from lower oil prices are auto manufacturers, airlines, trucking and shipping names like UPS FDX YRCW SWFT AAL F JBLU FCAU. 

Retailers are likely to get a boost as sales numbers begin to roll in but that could be the opportunity to sell into strength for people already in the names.

I don't expect much volume in today's shortened trading session so there is a strong likelyhood that I may just be sitting on my hands today.   

Stocks on my radar
VRNG pr dolla roll careful can be a pop and flopper, AVNR continuation, TASR continuation, JCP potential bounce trade, ICLD continution, GOL airline nice daily testing moving average resistance on the daily, TWTR and GPRO could get some follow through 

Seeking Alpha
Today's Markets:
In Asia, Japan +1.2% to 17460. Hong Kong -0.1% to 23987. China +2% to 2683. India +0.9% to 28694.
In Europe, at midday, London -0.7%. Paris -0.5%. Frankfurt -0.4%.
Futures at 6:20: Dow -0.2%. S&P -0.3%. Nasdaq +0.1%. Crude -5.9% to $69.34. Gold -1.2% to $1183.20.
Ten-year Treasury Yield -4 bps to 2.21%
Today's economic calendar:
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

Best of Success!