For those of you who like to trade, you can view some of my trading picks on www.tipstraders.com. We will be getting more aggressive on Tipstraders, but like to use the Investor Alert blog for longer term investors who like to invest in value.
I also like to give timely economic and market commentary on this blog. It is tough to mix a value approach in with a momentum style, but we are going to give you two choices now rather than one. We will identify what stocks will be geared toward value investors, and stocks for investors who want quicker returns.
On Tipstraders, I picked Google (GOOG) a few days ago at $297.44. The stock is up 36 points this morning after releasing earnings. Since TT is a trading service, we may be taking profits quickly.
Our other pick are Valero (VLO), Chesapeake Energy (CHK), NASDAQ 100 (QQQQ), Rydex Titan 500 (RYTNX), Rydex Velocity (RYVYV), Wal-Mart (WMT),Best Buy (BBY), Cemex (CX) and Coca-Cola (KO).
We will be getting adding more aggressive trading picks on TT as we shift our focus to stocks with the best momentum. So if you like to trade, keep close tabs on TT as well as my daily comments.
Today's Market
There are a lot of people out there calling for the end of the bull market. , Not to get picky, technically we are only in a bull phase of a bear market. While I agree that the bull phase of this market will end sometime over the next 2-3 month, I don't think its going to happen right now.
Today is option expiration. There will be a lot of wild gyrations today, and possibly into next week. I think the oil sector is severely oversold. I am not as interested in the integrated oils as I am the Oil Service and Refiners.
Given the break below $60/bbl oil, it looks like the next move down could be the $55 area. I would look to accumulate oil service companies like Schlumberger (SLB) at these levels.
Consumer Discretionary stocks, in particular, and have rallied nicely off their lows. I think we will have a decent run into November with these stocks.
