Wednesday, September 24, 2008

Energy Stocks

The stocks I pointed out are looking pretty good. Crude started strong and ended weak. Most of the stocks I mentioned were slightly red. I shorted HES intraday and made a small profit (could have done better if I held longer!).

Lets see if FSYS can find any support here.

They really fudged the bucket today. CNX restated estimates, but it also got a positive note from an analyst, lame. JRCC is going to offer a secondary, that was -15%. PCX got a buy rating yesterday and it is -5.5% today. ANR got a buy rating 2 days ago and since then it has been -15%. This is why I am glad I stopped holding stocks over night. Too risky in this environment.


At a critical junction. Will the downtrend continue? If it does, I think USO can head back to 65-70 area. The one thing I am worried about is that oil will rally if stocks rally from this new plan.