(July 21st, 2012)
The S&P 500 managed to tag a new relative high only to reverse sharply into the weekend and July option expiration. Now we are nearing two of the worst three months of the year (August and September). Plus, the situation in Europe with Spain and Greece is getting worse, not better. Plus, we will soon be hearing about the U.S. debt ceiling issue again. Plus, the U.S. is in the middle of the worst drought in over 20 years, which is sending agricultural commodities soaring. This will impact consumer spending, which powers 70% of the U.S. economy.
Believe it or not our watch list continues to generate new trades. We just had five watch list candidates graduate to the active trade list this past week. So we're not adding anything new tonight.
Here is a list of stocks currently on my radar screen as potential candidates to keep an eye on:
XHB, WFC, SLB, MMM, QCOM, XOM, CVX, RIG, CCJ, TGT, OXY, KS,