The DOW finished down 38 points at 12,269. Oil was the big story of the day as it hit a new all-time high above $139 per barrel before finishing down on the day below $134 per barrel.
News on Specific holdings:
Three holding stood out today on the upside. BUCY was up almost 3% today as the coal sector continued higher. I actually sold some covered calls against my position in this stock because it has has such an incredible run. I wouldn't be surprised to see the stock pull back in the near term even though I still believe in the long term story. CHK was also a winner today, up 3% on the back of natural gas which was up almost the same. We also got some good news on this holding as we found out the CEO, Aubrey McClendon, bought another 200,000 shares on Friday. This guy has been a consistent buyer this year and even though it was one of his smaller purchases, it shows he remains very bullish on the company. TEVA was the biggest mover of the day up over 5% on an upgrade after positive trial results for a drug the company is developing.
On the downside, it was another tough day for KO. One of the company's bottlers in Greece announced earnings that didn't meet expectations. I still love this stock for the long term, but as I mentioned in my weekly roundup, I think it may be headed for $50 so I want to wait before adding to my position.
Tomorrow GS will announce earnings and I'm expecting the company to beat estimates of $3.42 per share and the whisper number of $3.34 per share. If the stock opens up tomorrow morning, I will probably sell some of my position into the rally.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment