Oil stocks are finally starting to show some fairly good bottoming action. And that is putting pressure on the rest of the market. Technology was holding up to start the day but has now deteriorated. Traders are sniffing around metals, coal and agriculture while dumping banks and retailers.
It is still too early to have much confidence in this rotation but there is some very interesting looking bottoming action in the oil and commodity groups that have been hit so hard lately. If you have chased the consumer stocks lately, much sure you tighten up stops here just in case this rotation picks up steam.
P.S. Will you be there when Cramer makes his next move?
Strong brands and companies with vast market exposure can help bolster your portfolio. Jim was able to lock in a 64% gain by buying Ingersoll-Rand at $13 and selling at $22.50. Action Alerts PLUS members were the first to see these moves. Were you among them? Get Free Access Today!
Rev Shark Blog Tech Helps Naz 8/13/2008 10:42 AM EDT The Dow and S&P are feeling the heat, but strength in tech is helping to buffer the Composite.
Rev Shark Blog Stay Focused on the Short Term 8/13/2008 9:01 AM EDT While we probably have room to go higher, I still believe this is merely a bear market bounce.
Rev Shark Blog Market Loses Inspiration 8/12/2008 4:14 PM EDT We'll see a real test for the market as it tests support levels.
James "Rev Shark" DePorre is the author of Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital made a Fortune Investing in the Stock Market. He is founder and CEO of Shark Asset Management, an investment management firm, and he also operates sharkinvesting.com, an interactive online community that serves and educates active investors. DePorre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former tax attorney and CPA. He lives in Anna Maria Island, Fla., with his wife and two children. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Rev Shark appreciates your feedback; click here.
RSS FEEDS
PODCASTS
