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The Closing Bell: U.S. Stocks Drop Along With Oil Prices
Sold off quite a bit on this disappointing day, yet again...
OXY...I picked up recently, but could not hold gains...had hoped that this would be more sturdy given its dividend yield. No luck. APA, HES, XOM all down heavy as well.
SAFM...I picked up fairly recently, but could not hold gains. Massive shorts seem to be winning tug-of-war here.
SCHN...I took a beating on this one...a stubborn holding for me. Probably one of the most hated stocks out there today...the earnings call last week was so antagonistic. An aggressive BAC ML analyst basically called into question the entire business model for this 100 year old company. With raw metals at record lows, why would anyone want to by scrap? Jeffries stepped up with a hold and targets $20, citing cost reduction initiatives, continued FCF, and nice dividend, but the stock almost broke below $17 today. No admittance that tha company is buying its stock. Believe it can go lower still. Sad to say.
Did use downgrade by CS to pick up AIG, which has been off its recent high of $55. Added again to BAC...it too off recent high of $19...today, under $17.
HCP, OAK, AA continue to run higher. AA crushed expectations.
So, now just five equities: BAC, AA, HCP, OAK, and AIG.
Comments
Sold off quite a bit on this disappointing day, yet again...
OXY...I picked up recently, but could not hold gains...had hoped that this would be more sturdy given its dividend yield. No luck. APA, HES, XOM all down heavy as well.
SAFM...I picked up fairly recently, but could not hold gains. Massive shorts seem to be winning tug-of-war here.
SCHN...I took a beating on this one...a stubborn holding for me. Probably one of the most hated stocks out there today...the earnings call last week was so antagonistic. An aggressive BAC ML analyst basically called into question the entire business model for this 100 year old company. With raw metals at record lows, why would anyone want to by scrap? Jeffries stepped up with a hold and targets $20, citing cost reduction initiatives, continued FCF, and nice dividend, but the stock almost broke below $17 today. No admittance that tha company is buying its stock. Believe it can go lower still. Sad to say.
Did use downgrade by CS to pick up AIG, which has been off its recent high of $55. Added again to BAC...it too off recent high of $19...today, under $17.
HCP, OAK, AA continue to run higher. AA crushed expectations.
So, now just five equities: BAC, AA, HCP, OAK, and AIG.
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