Forget all that noise centering on the euro-zone debt problems and the possibility of U.S.
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
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2 comments:
Bill,
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
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?
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