What I'm trading today...
Oasis (OAS) at the $30.50 level is a buy with a stop under $30.00.
Continental Resources (CLR) is a buy at $78.51 with a stop just under $76.50
Both these stocks are Bakken focused with growing production and strong revenue growth.
Tuesday, February 7, 2012
Friday, February 3, 2012
S&P 500 Still Holding Near Monthly Highs...
European markets are up this morning as we await January jobs data here in the US. The past few BLS reports have been solid, and I'm thinking this one should be strong as well. However, the Dow, Nas, and S&P 500 are all trading at monthly highs. And more importantly, we're now approaching last years highs in all the major indexes.
That means the markets are prone to a pullback in coming weeks. We've seen solid gains so far this year, and the odds of the markets breaking through last years highs without seeing some hefty profit taking are extremely low.
That's why I've been lightening up on longs and applying a few more hedges over the past few days...
A few energy related stocks I'm trading today:
CLNE
NOG
TPLM
LNG
DUG
Disclosure: long positions in all
That means the markets are prone to a pullback in coming weeks. We've seen solid gains so far this year, and the odds of the markets breaking through last years highs without seeing some hefty profit taking are extremely low.
That's why I've been lightening up on longs and applying a few more hedges over the past few days...
A few energy related stocks I'm trading today:
CLNE
NOG
TPLM
LNG
DUG
Disclosure: long positions in all
Trading Psychology- Lose the fear by accepting the truth about trading...
Where does fear come from?
Of course, since this is a trading blog the fear I'm talking about is trading fear. Every trader, from novice to experienced, to professional, knows exactly what I'm talking about. If you haven't felt it yet, you haven't been in this game for very long. It's the lump in your throat, the queazy feeling in your stomach, the heart palpitations, or a mixture of all the above- right before you put on a trade.
So why does this happen? Why are traders prone to 'freak out' right before putting on a trade?
There are multiple reasons for trading fear, and we're going to cover all of them over the next few weeks. But more importantly, we'll cover ways to overcome fear. And it's with a simple tactic... accepting the truth about trading.
More to come on this deep subject...
Of course, since this is a trading blog the fear I'm talking about is trading fear. Every trader, from novice to experienced, to professional, knows exactly what I'm talking about. If you haven't felt it yet, you haven't been in this game for very long. It's the lump in your throat, the queazy feeling in your stomach, the heart palpitations, or a mixture of all the above- right before you put on a trade.
So why does this happen? Why are traders prone to 'freak out' right before putting on a trade?
There are multiple reasons for trading fear, and we're going to cover all of them over the next few weeks. But more importantly, we'll cover ways to overcome fear. And it's with a simple tactic... accepting the truth about trading.
More to come on this deep subject...
Wednesday, February 1, 2012
Important data to wrap up the week
We have jobless claims Thursday morning and the all important non farm payroll number comes out Friday morning. With the S&P 500 on the verge of breaking solidly above 1330 and then possibly on to the highs from last year, the last thing we need is a big miss on these numbers. Today's ADP numbers were in line with estimates but ADP doesn't always stack up with BLS.
More to come...
More to come...
Buy the rumor...
Pretty clear the situation for WPRT today was a buy the rumor and sell the news situation. Given the large and very bearish candle for this natural gas engine maker today, I think it may have seen it's highs- for at least a few weeks.
However, this stock has worked off bearish reversal candles in the past with no problem. And considering the strategic partnerships they have with global engine makers, Westport is without a doubt the leader in this emerging industry. I expect more good things from this company and their stock in the near future.
Fuel Systems Solutions (FSYS) was the big winner on today's Navistar news...
The stock was up over 11% on the day. Those who have watched this stock trade for awhile know this company had some problems last year. But now, it seems the company and the stock is ready for a comeback. Wouldn't be surprised to see a bit of profit taking in FSYS over the next few days, but after that I think a lot of traders will be looking to establish a long position in this stock, including myself!
Disclosure: As of now, I have a partial position in WPRT. Sold half my position near the middle of today's bearish reversal bar.
However, this stock has worked off bearish reversal candles in the past with no problem. And considering the strategic partnerships they have with global engine makers, Westport is without a doubt the leader in this emerging industry. I expect more good things from this company and their stock in the near future.
Fuel Systems Solutions (FSYS) was the big winner on today's Navistar news...
The stock was up over 11% on the day. Those who have watched this stock trade for awhile know this company had some problems last year. But now, it seems the company and the stock is ready for a comeback. Wouldn't be surprised to see a bit of profit taking in FSYS over the next few days, but after that I think a lot of traders will be looking to establish a long position in this stock, including myself!
Disclosure: As of now, I have a partial position in WPRT. Sold half my position near the middle of today's bearish reversal bar.
Navistar News
There's the news- Navistar to produce fleet of natural gas powered trucks. This is just the beginning folks! Huge investment opportunity in this industry. WPRT up 3% on the news pre-market.
Big Natural Gas News Today?
Stocks futures and oil prices are up on strong China econ. data last night. In my opinion, China is still growing faster than most analysts thing. And a strong china equals strong commodity prices.
Also, rumor has it there's a big news release pertaining to the natural gas transportation industry today. Westport Innovations (WPRT) had a huge day yesterday on NO NEWS. Either somebody leaked some inside info. or the run yesterday was merely a buy the rumor sell the news type event.
CLNE, LNG, and FSYS are other names that may move on this news.
Have a great day everyone!
Disclosure: I am long CLNE, LNG, and WPRT
Also, rumor has it there's a big news release pertaining to the natural gas transportation industry today. Westport Innovations (WPRT) had a huge day yesterday on NO NEWS. Either somebody leaked some inside info. or the run yesterday was merely a buy the rumor sell the news type event.
CLNE, LNG, and FSYS are other names that may move on this news.
Have a great day everyone!
Disclosure: I am long CLNE, LNG, and WPRT
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