Nothing moves in the markets. One day up, next day down. No clear trend, no clear direction.
Drug stock show some action. Health care is also moving. But no action is worth investing.
Rotation Into Energy and Agriculture
My positions are emerging out of negative territory. Surprisingly, energy and ag. sectors are rising up again. I have orders to close positions at break even. I am reluctant to take any bets now. I want to close all of my positions and take a breather after my huge loss in July.
(BUCY: 0.00 N/A, 50-day: 0.00, 200-day: 0.00, short ratio N/A, 1yr target: 0.00) position closed at break even.
MOS Stellar Earnings
(MOS: 46.47 +1.73%, 50-day: 50.99, 200-day: 53.69, short ratio 1.20, 1yr target: 84.46) just announced stellar earnings after market close. My position of Aug 150/155 debit call spread is in a deep loss as the share price is $122.36. Hopefully shares will soar tomorrow and I will be able to close my position without a loss. Price is up $2 in the aftermarket. I wish it went up more dramatically.
UNP and WLT
Sold them to close Aug options position. UNP was moving up gradually, WLT shoot up 15% after stellar earnings.
X also reported above expectation earnings and very good outlook. Stock shoot up 14% but my position in it is still in minus. The volume was high but it failed to cross 50-day moving average. But I hope it will continue its ascent tomorrow.
Oil is falling, natural gas declined 34% this month, consumer sentiment is getting better. CNBC announced that the last 10 days were the best 10 days for stocks ever. But, I still can not find an attractive industry to invest in.
My position in MTL is still standing, accumulating losses but I hope Vlad does something to reverse the damage he has done with his careless attack last Thursday.
Uncertain Markets
Markets continue to oscillate. Absolutely no ideas and no well-defined trends. Commodities no longer work. Vlad Putin continues attack on MTL, the shares go even lower. Now there is a real fear that Vlad will go yukos on MTL.
I mostly look for the ways to trim down and close my existing positions. No prospects for good investment until autumn.
MTL and Putin
MTL announced that it will cooperate on the issues pointed out by Putin. Bought some, expect a rally on Monday. Foreign investors are worried about growing government interference in business in Russia.
