Tuesday, March 11, 2008

Euro popping, futures still solid.

S&P: +8.4 Dow: +76 Nas: +5.5

Some charts have been added to the right --->
Check out the euro.
You now need over $1.54 to buy 1 euro.
Commodities hot again today.
Oil hitting new records over $109.
Gold is over $980, making another run toward $1000.
Silver is back over $20 after pulling back to $19.
It's still well below it's recent high over $22.
Best way to play silver, SLV, the ETF.
GLD for gold.
Copper heading higher too, stockpiles are still in decline.
Lundin Mining, LMC, has pulled way back and derives most of its revenues from copper.
Oil is insane, hard to go long with conviction at these levels.
Oil services, the OIH, could be the best way to play oil here.

BHI, RIG, NOV, SLB....

There's been a divergence between the OIH and oil.
And solar has been taken out to the woodshed and beaten down hard.
TSL, CSIQ, STP (debt offering yesterday, could still be soft, http://biz.yahoo.com/prnews/080310/cnm024.html?.v=23
so take care)

1 comment:

J.L. said...

OIH is up 3.4%.
RIG up 3.5%
Solars mixed: FSLR, CSIQ over 4% higher, TSL down.