Monday, December 22, 2008

Panic of 1873

I have always been interested in history. Here is a comparison of our time to that of the 1873 panic. The Real Great Depression, here is the wikipedia article Panic of 1873.

A side note, the agriculture stocks continue to be beaten to a pulp. MON is at or close to a 52-week closing low. POT, CF, MOS all look like death. ADM is the only one not close to its 52 week low, and I believe that will not remain true for long. It is trading inside of a rising wedge, but it is also above most of its moving averages, which is bullish.

All the rail stocks I mentioned are very close to their 52 week lows, one of the last sectors to have succumbed to this bear market.

The indexes seem to be still range bound.

If you want to find bullish stocks, check out bespoke's list here.

EBS looks like an interesting short candidate, since it has started to move up parabolicly. But since it is a biopharm company, holding it overnight can be lethal. Also, just because it has started to move up parabolic does not mean it will stop, so picking a top can always be dangerous.

LOPE looks like a great IPO, closed today at a 52 week closing high.

Have a good holiday!