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Look for another light volume week in the commodities and equities as Wall Street makes one last run at the beaches before getting back to work. We got one merger out of the way but in service (see below) and not E&P. If you missed the weekend post click here it contained the entries [...]
Wow, a week in the energy world that wasn’t cause for resource fund managers to look through the help wanted adds while working on their tans in the Hamptons. It seems energy companies are not about to go out of business and the sentiment meter on the E&P and Oil Service sectors has ticked up [...]
We Will Bury You Watch: Yesterday’s spike in oil was attributed by the financial press to a falling dollar as the U.S.S.R. Russia expressed its extreme displeasure with the U.S.’ intention to install an anti-ballistic missile battery in Poland, about 100 miles from the Russian border. The idea that the cold war may be [...]
Sentiment Watch:Very cautiously optimistic. Two days of green also do not a trend make. I added opening positions in a couple of less recently traveled service names yesterday ((RIG) and (NOV)) which began acting the way I was looking for them to in yesterday’s post. I also took some fast profits on HK and [...]
Sentiment Watch: I’d say just a touch higher than negative today, fund managers are either on or thinking about vacations and are not feeling too gutsy. As Bleemus points out this morning however, the WSJ is citing increased oil company insider buying. Once again, one green day does not a trend make. I dipped [...]
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