Monday, June 14, 2010
Open high, close low?
The Nat Gas sector continues to blossom as BP (30.79 -9.36%) continues to bottom. Technically, BP was due for the bounce off 29 last week. But the nat gas industry had lagged for months, years. Of the 40 on my list, 32 are in the green today, even with the overall pullback. Interesting to note, however, that some of the decliners today include GDP and HGT, which were among the leaders on Friday. GDP has fluky fundamentals and I just don't like it compared to the elite issues in the sector. A tiny float made it great daytrader material.
HGT, on the other hand, has a great balance sheet. This may be my chance to finally re-enter the sector, but the market may be at its turning point soon. WPRT is a big gainer at +6.57% (19.23), along with MMR (again) at +6.27% to 11.69 and UNG +4.9% to 8.57. BRNC, PETD, ROSE are also up more than 3%.
And, AAPL has just hit 257. That was quick. Oh, the things that happen on low volume.