Friday, July 22, 2011

Listen to the markets

Forget all that noise centering on the euro-zone debt problems and the possibility of U.S. lawmakers failing to reach a debt ceiling deal by August 2, 2011.

Take a look at some of the biggest $ gainers today - Calfrac Well Services Ltd. (CFW) up $1.36 (+3.7%), Precision Drilling Corporation (PD) up $1.11 (+7.2%), Trican Well Service Ltd. (TCW) up $0.97 (+3.9%) and Total Energy Services Inc. (TOT) up $0.90 (+5.9%). Take a look at the recent new 52-week highs and you find the same names.

Now I am a bellwether guy in that I look for the behaviour of the sector leaders before acting on the sector as a group. When I see the oilfield services stocks on the move I have confidence the broader energy stocks – the oil & gas producers and the integrated big guys will follow. Now I know gold is the hot sector right now – but don’t overlook the energy sector. Our weekly chart displays some of the leaders – all just getting underway so there is still time to do some homework on the sector


Piazzi said...


should we call this rally the Italian job?

after all it was the oh-my-god-there-goes Italy that brought us back-to-back hits on 200-day SMA of S&P and the current rally

Some thing never change in the capital markets

may God increase the perma beings -- only with them aplenty we can get good bottom, and tops

Shawn Severin said...

Hi Bill. The yield on the 10-year T-Bill is holding well below 3% and trending down. Financials are getting hit hard also. Is this a sign of an impending bear market or simply a correction in a bull market?