The DJIA started the day roughly 50 points lower, and at three hours to close is down about 0.8% to 10,215. ADBE is the only stock I mentioned yesterday to have gained thus far today, making 0.59%. BBBY is down 4.25%, NKE down 3.9% and DVN -1.71%. Though DJIA, S&P 500, and NASDAQ futures have all recovered somewhat, bearish sentiment in the market persists due to the Federal Reserve's statement yesterday. In that statement, they decided to keep interest rates at historic low levels to encourage the slow economic recovery and growth.
Jobless claims fell 19,000 for the week ending June 19, but lower-than-expected new home sales neutralized any positive effect that statistic might have caused.
HNR has fallen 2.77% to $8.06, and I rate it a BUY at $8.00.
Thursday, June 24, 2010
Stocks to watch as the week ends
As the week of June 21 draws to a close, we've seen mainly even trading in the DJIA, S&P 500 and NASDAQ indices. However, several stocks have seen great movement, notably Jabil Circuit Inc (NYSE:JBL) and Adobe Systems Incorporated (NASDAQ:ADBE). Though some analysts advocate short-selling JBL or buying ADBE, I would advocate waiting a few days to see how the market adjusts and how popular sentiment changes regarding these two companies.
Two stocks to really keep an eye on in the next day or so are Nike (NYSE: NKE) and Bed Bath and Beyond (NASDAQ:BBBY). Though both reported positive and increased earnings, NKE took a healthy 2.25% hit in after hours, while BBBY was beaten down 5.38%. Neither company is anywhere near failure, and these declines must be short-term market adjustments. The rational investor would capitalize on the value of these stocks and then hold them for a few weeks.
Finally, one of my favourite stocks has been Harvest Natural Resources, Inc (NYSE:HNR). Though it has gained only 25% in the past 3 months, it is quite volitile and sees active trading. In the long term, I see a huge growth potential for this stock, but by utilizing its wild day to day price changes the savvy day-trader can make a sizable profit.
Two stocks to really keep an eye on in the next day or so are Nike (NYSE: NKE) and Bed Bath and Beyond (NASDAQ:BBBY). Though both reported positive and increased earnings, NKE took a healthy 2.25% hit in after hours, while BBBY was beaten down 5.38%. Neither company is anywhere near failure, and these declines must be short-term market adjustments. The rational investor would capitalize on the value of these stocks and then hold them for a few weeks.
Finally, one of my favourite stocks has been Harvest Natural Resources, Inc (NYSE:HNR). Though it has gained only 25% in the past 3 months, it is quite volitile and sees active trading. In the long term, I see a huge growth potential for this stock, but by utilizing its wild day to day price changes the savvy day-trader can make a sizable profit.
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