Today in the market, Wednesday May 14, 2008: A favorable inflation report and weaker oil prices sent the market soaring most of the day, but late hour tech selling trimmed stocks down to slim gains. Profit taking is not unexpected. And a gain for today is still a gain as the market climbs a wall of worry.
RSI’s Themes: There were no ETF/CEF picks for today. RSI did pick ten stocks with half of them new names. The spread of stock names don’t provide any clear theme, except for maybe steel and heavy industry, but that is a stretch.
Stocks Medium Volatility:
- BKE – Buckle, Inc.
- BNT – Bentley Pharmaceuticals, Inc.
- CMI – Cummins Inc.
- CTRP – Ctrip.com Intl Ltd.
- GNA – Gerdau AmeriSteel Corp.
- LUK – Leucadia National Corp.
- TTEK – Tetra Tech Inc.
- TTMI – TTM Technologies, Inc.
Stocks High Volatility:
- HIL – Hill International Inc.
- MON – Monsanto Co.
New stock names:
Cummins, Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric power generation systems, and engine-related component products worldwide.
Ctrip.com International, Ltd., together with its subsidiaries, provides travel services for hotel accommodations, airline tickets, and packaged-tours in the People’s Republic of China. The company was founded in 1999 and is headquartered in Shanghai, the People’s Republic of China.
Tetra Tech, Inc. provides consulting, engineering, construction, and technical services for resource management and infrastructure in the United States and internationally.
TTM Technologies, Inc. provides printed circuit boards and backplane assemblies in the United States and internationally.
Hill International, Inc. provides fee-based project management and construction claims services primarily in the United States, Europe, the Middle East, North Africa, and the Asia Pacific.
Catch a Falling Knife:
- DUG – UltraShort Oil & Gas ProShares
This one is certainly a falling knife. If you like standing in front of the freight train of rising crude oil prices then be my guest. Otherwise this is a highly dangerous speculation. Oh the other hand, if oil prices do abate, this ETF will be the hot fund…..You be the judge.
