Bolling: Basket of Trades to Close Out Week

Stock quotes in this article: C , GS , CSCO , CVX , X , XOM , MON , DE , T  

On Thursday, I was encouraged to see the Dow manage a plus (+52.5) after the near 200-point sell-off Wednesday. However, the S& P chart points are very relevant in determining my add, sell, or hold mindset going forward. I have to admit, the shocking oil price is weighing on my decisions as well.

However, today I am ready to add to some financials like Citigroup(C Quote) and Goldman Sachs(GS Quote) and energy like Chevron(CVX Quote) and Exxon Mobil(XOM Quote). I will most likely look to buy Monsanto(MON Quote), Deere(DE Quote) and possibly a steel stock like U.S. Steel(X Quote) if the resistance (1427) is taken out.

I will hold everything between 1427 and 1382, and I will sell some of my non-core holdings in Cisco(CSCO Quote) and AT&T(T Quote) below 1382 on a settlement basis.

Have a profitable trading day and a great weekend.

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At time of publication, Bolling was short oil, long C, GS, MSFT, CVX and XOM, although holdings can change at any time.

Eric Bolling is a host on the new Fox Business Network. Bolling was one of the developers and original panelists (nicknamed "The Admiral") on CNBC's "Fast Money."

Bolling is an active trader specializing in commodities, resource trades and ETFs.

Bolling is a member of several exchanges including The New York Mercantile Exchange (NMX), The Intercontinental Exchange (ICE) and The Commodity Exchange of New York.

After spending 5 years on the Board of Directors at the NYMEX, he became a strategic adviser to that Board of Directors where he assisted in bringing the company (NMX) public. He has been included in Trader Monthly Top 100 in 2005 and 2006. Bolling was the recipient of the Maybach Man of the Year Award in 2007 for his contribution of philanthropy and willingness to de-mystify investing to Main Street.

Bolling graduated from Rollins College in Winter Park, Florida and was awarded a fellowship to Duke University. Bolling was an accomplished baseball player. He was drafted by the Pittsburgh Pirates where he played before his career was cut short due to injuries. He honors his baseball past by sporting the NYMEX trader badge, R.B.I.





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