Taking Stock

It looks as though I bought more one day too soon. oops. My sentiment is that it is only a little consolidation, but we shall see after tomorrow because of all of the economic data coming out. Tomorrow, the ADP jobs report, advanced GDP, PMI, crude inventories, and the FOMC statement are all important indicators that can move the market.

There was some more big movement in Dryships (DRYS) today, but ultimately not a big deal. I don't expect MEMC Electronics Materials (WFR) to go in any kind of an uptrend, but quite the opposite. Most commodities prices dropped today, so quite a few of my positions took a slight beating. Anything in natural gas is a good buy, which my personal favorite is Ultra Petroleum (UPL). It looks as though Ultra is touching the 50DMA, which is a good support level and buy point. I'm loving the after-hours action (+7%) in my favorite communications infrastructure play, CommScope (CTV), due to a good earnings report. I also still like B/E Aerospace (BEAV), which I think will start back on an upwards trend. I'm still keeping my eye out on Yamana Gold (AUY), because of inflation rising and the price of gold has been dropping.

One of the positions that I have is CE Franklin (CFK). Admittedly, I bought it a few years ago when I didn't have a clue for as to what I was doing, so I have no idea for as to why I bought it. oops. Yet now, as it stands, the price of oil is such that it makes extracting oil from oil tar sands profitable. CE Franklin is involved with the sale of petroleum related equipment throughout Alberta, Canada. Alberta is known for the extensive amount of oil tar sands that it has.