This week's list of top performers looked familiar to what was working previous to the past 2 months - global growth & commodity based names. We had a hunch it would be their time as we wrote a few times last week/weekend. As has been the pattern of late, the most beaten stocks eventually take the baton (unlike the U.S. men's and women's 4x100 relay teams) from the previous group of winners. It continues to point out a pattern where most rallies are being sold, and a rotation into beaten down stocks is where the short term money is being made. A very different pattern than is traditionally a short to medium term winning strategy. But the open question remains how long is their run, and is it "over" already as many run into technical resistance?
Criteria
- Market capitalization $1.50B+ (I've dropped this down from $1.75B as I continue to look for some smaller fare that is outperforming)
- Average trading volume 100K+
- Stock price $10+
- Return this week 9%+
| Symbol | Company Name | % Price Change 1 Week |
| ALO | Alpharma Inc | 40.6 |
| STP | Suntech Power Holdings | 25.1 |
| FMCN | Focus Media Holding Ltd | 21.7 |
| TC | Thompson Creek Metals Co Inc | 21.6 |
| CQP | Cheniere Energy Partners L P | 21.0 |
| DKS | Dick's Sporting Goods Inc | 18.2 |
| BZP | BPZ Resources Inc | 17.8 |
| PAY | VeriFone Holdings Inc | 17.4 |
| ACI | Arch Coal Inc | 16.1 |
| AEM | Agnico-Eagle Mines Ltd | 15.5 |
| HK | Petrohawk Energy Corp | 15.1 |
| ARD | Arena Resources Inc | 14.4 |
| YGE | Yingli Green Energy Holding Co Ltd | 14.2 |
| SQM | Sociedad Quimica y Minera de Chile | 13.9 |
| SU | SUNCOR ENERGY INC | 13.8 |
| TRA | Terra Industries Inc | 13.6 |
| GG | GOLDCORP INC | 13.6 |
| ENER | Energy Conversion Devices Inc | 13.3 |
| CNX | CONSOL Energy Inc | 13.2 |
| BTU | Peabody Energy Corp | 13.0 |
| IMO | IMPERIAL OIL LTD | 13.0 |
| ICO | International Coal Group Inc | 12.5 |
| UB | UnionBanCal Corp | 12.3 |
| CF | CF Industries Holdings Inc | 12.0 |
| TKTM | Ticketmaster | 11.9 |
| DPTR | Delta Petroleum Corp | 11.9 |
| SSRI | SILVER STANDARD RESOURCES INC | 11.8 |
| SLW | Silver Wheaton Corp | 11.7 |
| LTD | Limited Brands Inc | 11.6 |
| TCK | Teck Cominco Ltd | 11.6 |
| HES | Hess Corp | 11.5 |
| IPI | Intrepid Potash Inc | 11.4 |
| WLL | Whiting Petroleum Corp | 11.4 |
| SMS | Sims Group ADR | 11.3 |
| KGC | KINROSS GOLD CORP | 11.2 |
| NOV | National Oilwell Varco Inc | 11.0 |
| CRK | Comstock Resources Inc | 10.9 |
| MEE | Massey Energy Co | 10.9 |
| NXY | NEXEN INC | 10.8 |
| TX | Ternium SA | 10.6 |
| FLR | Fluor Corp | 10.4 |
| CLR | Continental Resources Inc | 10.2 |
| CNQ | CANADIAN NATURAL RESOURCES | 10.2 |
| MOS | Mosaic Co | 10.1 |
| RTP | Rio Tinto ADR Each Reptg Four Ord Shs | 10.0 |
| BUCY | Bucyrus International Inc | 9.7 |
| CGV | CGG Veritas One ADR Reptg One Ord Shs | 9.7 |
| TIE | Titanium Metals Corp | 9.5 |
| ANR | Alpha Natural Resources Inc | 9.4 |
| MMR | McMoRan Exploration Co | 9.2 |
| ECA | ENCANA CORP | 9.1 |
| PZE | Petrobras Energia ADR | 9.0 |
| UNT | Unit Corp | 9.0 |
| AUY | Yamana Gold Inc | 9.0 |
1 comments:
Mark,
I agree market is completly trendless, except I would advise you to keep a close eye on the $TNX, above 3.8% on the 10 year market moves up and below that level short.
Another indicator thats working is $DXY, the dollar gapped up past its 200dma and was under it for a very long time.(inverse correlation with commodities). Dollar is strengthening against all major currencies, it needs to move lower for the previous trends to resume (Oil AG KOL etc).
We had plenty of bad news last week and the market parred its losses and was even up in the face of rising oil, so I don't agree with the thinking that its oil has an inverse correlation with the markets (not fixed).
The fed can't lower rates in the face of this kind of inflation, this will keep a floor under the dollar (europe R.O.W slowing), do you know of any reason for the dollar to go down in the near term (i'd like the dollar to weaken).
The primary trend in this market is UP as that rising wedge which seemed to have broken was repaired on thursday and friday, but right at E/E levels. Long term trend is down, this is mearly a corrective phase in a downtrending market trying to form perhaps a W. We need to retest those July 15th lows I was hoping for that retest move to begin last thursday but it didnt happen (head fake).
Please let me know about your thinking on the dollar.
Also check out this link about OIL
http://www.hardassetsinvestor.com/features-and-interviews/1/1033-analyst-says-peak-oil-is-already-here.html
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