Business Magazine

Oxen Group Watchlist: We’re Ready to Buy, Give Us an Up Day – June 2, 2011

Posted on the 02 June 2011 by Phil's Stock World @philstockworld

Oxen Group Watchlist: We’re Ready to Buy, Give Us an Up Day – June 2, 2011The market looks like it may be priming for a pop on the jobs report tomorrow. The market is setting up for failure, and that is actually the time when we think its ready to rally. What happens is that expectations are for the worst, and when it does not happen, the market rallies. The same exact setup occurred on the last jobs report. With that said, its time to find some stocks that could prosper on an up day tomorrow.

Let’s get into them…

Canadian National Railway Co. (CNI) – The rail company moved up very well with strong price action before the recent pullback, and the stock is sitting right on its 50-day MA with the 20-day MA sitting above it at 76.25. If the stock can close above that price and we can get a nice day in the market tomorrow, CNI may be ready to break out back to the upside if it can break through. The company has been on a great upwards trend in a solid price channel. As of late, the volatility in the market has made that trend less straight, but the stock performs very well on up days and has not broken through 75 during pullbacks. Looks like a safer play with upside.

Oxen Group Watchlist: We’re Ready to Buy, Give Us an Up Day – June 2, 2011

Heinz (HNZ) - After an upgrade today from UBS, Heinz opened significantly higher but fell as the market cracked. The stock looks like it could be ready for a bounce back tomorrow with an up day. The company is definitely feeling pressure at an upward limit of 55.00, but this stock looks like it is ready to continue higher. Heinz has been on a tear since March, and as of recent, the stock has been breaking out. Yesterday’s pullback killed its rally, but we don’t think the trade is over. UBS believes this stock is a $62 stock, and median targets are for upper-50s. This stock did not get the pop on an upgrade and sold off quickly, but if we can get the market going tomorrow, HNZ is another safe play that will be able to perform well.

Oxen Group Watchlist: We’re Ready to Buy, Give Us an Up Day – June 2, 2011

McMoRan Exploration (MMR) - Oil prices have been dropping on a combination of supply increases and weak economic data. Yet, the dollar has been weakening as well. We believe oil might temporarily be ready to retest $102 for two reasons tomorrow. Strong jobs numbers will be good for oil as it shows more strength in the economy. Yet, weak numbers could weaken the dollar further against the Euro, which would also push oil higher. This would help MMR. The stock is sitting right above its 20-day and 50-day MA and showed strength today even when oil was showing weakness. A recent pullback has put stochastics lower, and it looks like they are pointing back upwards. If oil rallies, we would want to play it with a position in MMR.

Oxen Group Watchlist: We’re Ready to Buy, Give Us an Up Day – June 2, 2011

News Corp. (NWSA) – The maker of "Hangover 2" seems to have gotten a recent "Hangover" rally along with the general market. Yet, the stock quickly gave up those gains yesterday and today and has fallen into the 50-day MA again. Moving into another "Hangover"-dominated weekend could be a nice catalyst for NWSA that has a great technical setup. A good jobs number along with the movie can definitely be enough to give NWSA another big day tomorrow. Bad jobs numbers, though, and of all four, this stock might fall the hardest.

Oxen Group Watchlist: We’re Ready to Buy, Give Us an Up Day – June 2, 2011

Good Investing,

The Oxen Group


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Dying Games – Steve Robinson

    Dying Games Steve Robinson

    Crime Fiction5*s The genealogical expert Jefferson Tayte is back! I love this series which has taken me back to historical eras I know little about while tellin... Read more

    10 hours, 21 minutes ago by   Cleopatralovesbooks
    BOOKS, CULTURE
  • Crushed a Flower with a Footstep

    (Photograph by Abhay Tiwari) Please, talk to me about who you were before the walls were painted blue; Tell me the bruises, the aches, and time just added... Read more

    11 hours, 28 minutes ago by   Shantam Sahai
    DIARIES, SELF EXPRESSION
  • Make My Day . . .

    Make

    Read more

    11 hours, 44 minutes ago by   Vickilane
    CREATIVITY, PHOTOGRAPHY
  • Lifestyle: Productive Procrastination

    Lifestyle: Productive Procrastination

    I’ve moaned about it enough, so you’ll all know by know that despite having graduated last summer I’m still studying. I’ve chosen a career path which pretty muc... Read more

    12 hours, 43 minutes ago by   Ninegrandstudent
    FASHION, FOOD & DRINK, LIFESTYLE
  • Why I’m Not At the MidAmerica Region Annual Assembly

    I love Chicago. I have family there that I'm normally always looking for a way to be with. And I have friends that I don't see nearly enough. So when I first... Read more

    13 hours, 58 minutes ago by   Eastofmidnight
    POLITICS, SOCIETY
  • Lemon Stuffed French Toast

    Lemon Stuffed French Toast

    Whenever I have stale bread I want to make one of two things . . . either I want to make a bread pudding, or I want to make French Toast. Today the French... Read more

    14 hours, 44 minutes ago by   Mariealicerayner
    FOOD & DRINK, RECIPES
  • Safety First And Workout Related Injuries Last

    Safety First Workout Related Injuries Last

    (Image Credit) Like most things in life, exercise can be a dangerous game. It’s very easy to injure yourself while you’re exercising; if you fail to take the... Read more

    18 hours, 40 minutes ago by   Peppertan
    FAMILY, HOME

Magazines