April 24, 2007
Stock Du Jour (CMI) & Random Observations
Chop, an absolutely perfect day to lose money trading. Lots of Regional Banks on the new lows list, including one I’ve spoken highly of here before, IBCP. And there’s poor Sirius Sat. Radio (SIRI) under $3.
MEDI bought out — given the price action since mid-March, a lot of people knew what was brewing there. Bausch & Lomb (BOL) looking fabulous — I wondered about buying it back during the “eye fungus” thing, but held off (too bad). Lots of Metals on the new highs list — the best proxy for that sector is the Metals & Mining SPDR (XME).
Cummins (CMI) was the stock du jour, moving to a new high on around five times average volume.
Cat: | Time: 6:55 am (utc+8)
April 24th, 2007 at 9:02 am
First CAT now Cummings, whats with markets love of diesel powerplants? My 68 GMC contains a rebuilt 671 two stroke Detroit,thank you. All you need is good hearing protection and a lot of spare motor oil. I bet you will hear an occasional screaming Detroit bus or truck on the streets of China.
April 24th, 2007 at 10:03 am
Hudson: The major truck company in China is called “Liberation Motors” and there are plenty of their old beasts around, kicking up the CO2 count (along with god knows how many other toxins) … liberating the planet from precious clean air, while building “New China.” ;-)