Stock Watch 3.18.11 “The G7”
Thursday the G7 agreed to coordinated intervention in the foreign exchange markets to help boost the YEN and stabilize markets. On Friday Saudi King Abdullah will address his people on their interest in sending troops to Bahrain. This could be a massive catalyst for oil prices. We’ll be keeping a close watch on cheap oil names.
Watchlist MAXY CNAM SHOR CTIC UNG
MAXY
Big gap and run from an agreed buyout. I doubt there is much more in this as the buyout is not that much. Possible short on weakness.
CNAM
Another Chinese run down. This bounce is a good opportunity to short this stock. I see it going much lower, especially if the market is weak.
SHOR
Popped on an upgrade. Maybe there is upside room to challenge 7.90. Above 7.90 is a breakout zone. Any fades from there would be a nice short
CTIC
Big momentum in this thing but it’s doubled in value in the last four days. I will remain neutral but obviously leaning short.
UNG
Natural gas is running with oil. This is a little different than normal featured as I don’t post many ETF’s but if Natural gas runs this is a good play off that move.
