Oil. Oh it's so last month
11/22/2004
With oil off highs, it is no longer the key story affecting the markets. However, with a uptick in the price, if it continues a couple of dollars higher it will return to being the main thing moving stock prices.
The market is thinking: "earnings are good from companies, interest rates seem on hold now that property prices are likely to fall so that will help company growth too." All this is suddenly bullish and positive for stocks. My bias shifts again to being positive in the short-term. As I write, over the preceding 14 trading days 75% of the UK's largest stocks were up.
Value-Growth
On my value growth criteria which are based on stocks meeting revenue and profit growth and good value based on criteria such as price earnings growth, the following names come up. Remember they are for a 6 month outlook: BHP Billiton, DTZ, Titan Europe (a new one), Associated British Foods (new one), Erinaceous, Speedy Hire.
Crazy Small Stock
These are high risk volatile stocks which could move sharply higher or move sharply lower in my view, but will almost certainly not stand still. Names on the radar include Supercart, Western Canadian Coal, Crosby Capital Partners, Cambrian Mining.
If you're an ADVFN reader and would like to join me for New Year's Eve, this is where I will be: www.puccinosnorth.com - and I am happy to talk about the markets. I hope to see you there! Also, If you would like a free multi-media CDROM on 'Investing Better' posted to you then drop me an email with your postal address to alpesh@tradermind.com.
Spreadbetters
Spreadbetters and futures traders often look at hard and soft commodities. Here's my quick take on the action for the week ahead - and boy was I right last week - now where's that trumpet? If you'd like to know more about how to be as accurate, drop me an email with your name and address.
- Copper: up (called v right again last week) - toppy for forthcoming week, watch for any falls. Keep stops tight.
- $/£: mixed to lower (called toppy last week and was correct)
- Crude Oil: Picked up last week. Looking for some upward moves before down again.
- Dow: Down
- Gold: Mixed to Up (called right by me last week). Watch for any falls.
- FTSE 100: Down
- Soyabean Oil: Mixed (called right last week)
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