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All Posts Author: Patrick Stevens

Banks Continue to Perform Poorly

Friday’s action confirmed the S&P correction which was signaled two days prior and the DOW Industrials sell signal that occurred over a week ago. And the weak sector of the economy is the same sector that began a correction last year, the Financials.

Petrohawk Energy Corp. (HK)

Clearing its previous high for the year, Petrohawk Energy ran up 11.35% today to close at $34.82. This Houston based developer, producer, and distributor of oil and natural gas jumped on an upgrade by Lehman Brothers.

Short General Motors (GM)

With the high price of oil and the weak domestic economy, GM does not look to improve its earnings potential quickly. Hitting a new 52 week low today, the company fell 1% on a pretty decent day for equities and a day that saw a reversal in oil from the current trend.

China Precision Steel, Inc. (CPSL)

If you’re dying to be long and are looking for a speculative play for your portfolio, China Precision Steel had a great day of trading on Friday and the options action was also encouraging.

Market Sentiment Shifting

In recent days the major three indexes, the Nasdaq Composite, the Dow Jones Industrials, and the Standard & Poor’s 500 all have giving hold signals.

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