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Tuesday, March 15, 2011

look interesting

We are still hostage to the nukes. If there is a meltdown, obviously the markets will keep digging. If there is no melt down, and the dust settles within Japan, they can start to rebuild, and a sense of normalcy comes to the markets.

These names look interesting based on the oversold condition, and the demand needed for the rebuild: FCX, CAT and GS

I day traded this today because of the nuke thesis uncertainty. With the reduction of uncertainty, it should over come the 52 heavy resistance and could re-test 60 fairly easily.

CAT has not seen an oversold condition in 6 months. Its pullback is minor, but due to the need of CAT services on top of the already impressive global demand, now maybe a good time to enter.

GS is purely technical. It has seen a nice pull back, and is near its historically very strong support, the 500 SMA.

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