filed in My Investments on Dec.07, 2009
Bernake helped the markets fall lower when he commented late today on the fragile economy and how interest rates cannot be raised due to the volatility in the economy. This pushed the dollar lower after a 5 week run upwards as well as sending gold back up after it was sinking lower for the most part of the day. Bernanke did agree that the U.S. economy has improved and said the jobless rate may remain high a while. His comments took the wind out of market perceptions that last week’s strong jobs data would lead the U.S. central bank to raise rates.
Here is the market summary for Monday:
Looking at Tuesday:
I am still holding and watching the stocks in my portfolio start to boil once again. (CYTR) is rising on further positive news after FDA approved its Phase 2 trials after being previously stopped. My big winner for 2009, (VVTV) is back into the $4.00 range which is a nice boost to my income potential. On the opposite side, (OCNF) is starting to pull off its high of $1.17 and is back down, I’m still holding and have faith and am full aware that stocks never move is a linear pattern. If anything, I will try to get into the stock for another 1000 shares if the price can pull a few cents lower this week.
A few stocks that I’m looking at for the next pop are:
El Paso (EP) which has is off its price target but seems to have stabilized and should move upwards. The stock was at $9.63 today and can have the ability to hit the $12 range.
Gannett Co (GCI) is another company that I like. Its off its target of $14.50 and seems to be heading into the right direction. The stock did move up 7+% today which I hope will move down before its next run upwards.
Pactiv Corp (PTV) is also doing great things and has a target set at $34/share. You might not have heard of the company, but they are leaders in the consumer and foodservice/food packaging markets it serves. Pactiv’s has the Hefty® brand products.
Ofcourse, there are other stocks out there, there is also tonnes of research you should take before putting your employees out there to bring you back more little employees. But I have been right enough times this year and feel comfortable on putting my focus on these stocks.