Monday, September 29, 2008


I won't be giving any recommendations or suggestions since I have no idea what to do here. I always thought the market would continue to have a hard time even if the bill got passed. But now that the bill has been stalled, I don't know what to think! I watched stocks go down HUGE today.

FSYS - I never thought it would break the channel like this!
CLF - 5th down day in a row. Today it was -20%, at worst, -28%. Last 5 days it has gone -60%, now it has a forward PE of 3... something has to change here. I don't understand the discrepancy between spot coal prices and the dry bulk rate. I am very interested to see how these coal names get resolved. do estimates come down? do stock prices go up? do earnings meet expectations?
CNX - Almost completely returned to 2007 levels, -24% for the day. FPE 5.6
WLT - Same as CLF

Huge down day for oil stocks, particularly the ones I pointed out:
PXD - 11%
DVN - 11%
CRK - 14%
HES - 15%
ARD - 16%

Some of the bullish/bottoming stocks got completely washed out.