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...
Wednesday, February 1, 2012
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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