Tuesday, January 31, 2012
Strong Econ Data from China
Strong China Mfg data tonight- 50.5 vs. 49.6 exp. Should translate into a strong open and a test of 1330 on the S&P tomorrow...
Tuesday SP500 Market Action
Interesting day today! Markets gapped higher on the open but reversed when weak PMI and housing data hit the headlines. Looked like the selloff could gather steam but dip buyers stepped in to save the day.
I bought specific energy names on weakness today including CLNE and NOG...
Keep in mind, both those names are highly speculative plays. CLNE is Boone Pickens Nat Gas fueling company (which has tons of potential by the way) and NOG is a non-operated Bakken play. Buying these names with the SP500 near monthly highs is a bit risky, but I'm expecting some positive news out of both these names in the near future.
Remember, this site is about to start rockin' with energy info. By next week you'll see tons of info throughout the day... and it's all going to be about trading energy stocks.
More tomorrow,
Justin
DISCLOSURE: I am long CLNE and NOG
I bought specific energy names on weakness today including CLNE and NOG...
Keep in mind, both those names are highly speculative plays. CLNE is Boone Pickens Nat Gas fueling company (which has tons of potential by the way) and NOG is a non-operated Bakken play. Buying these names with the SP500 near monthly highs is a bit risky, but I'm expecting some positive news out of both these names in the near future.
Remember, this site is about to start rockin' with energy info. By next week you'll see tons of info throughout the day... and it's all going to be about trading energy stocks.
More tomorrow,
Justin
DISCLOSURE: I am long CLNE and NOG
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