Out of the 20 oil and gas stocks he covers, he thinks Whiting has the most upside. His price target is $52, and that's under current market conditions. The analyst said Whiting's shares can accelerate because the company is showing that impressive well cost reductions are manifesting themselves in low F&D (finding and development) costs.
Sentiment: Strong Buy
And Oppenheimer also out with a note and an outperform rating with a $47 price target.
If you guys follow Level II, the quotes are comical. I find a lot of the quotes from the EDGX exchange are fake, that is they're thrown out there probably by the market makers. A few minutes ago there was a bid for 7,200 shares, at about $54.80 or so. As soon as it traded a bit higher, the bid disappeared. I think the MM's do this to provide liquidity, esp in the light trading in AH.
Yes, as I said yesterday growth is slowing, so the market is repricing the stock. But now it has stabilized, and is trying to form an intraday base, which is why I decided to go long just now in the low $54's. There's nothing wrong with this company, and Wall street always seems to overreact to both the upside and the downside.
According to CNBC, before Caterpillar reported, they said CAT was considered a "bellwether for the US economy." Now that their report and guidance is awful, CNBC isn't saying anything.
The markets should have corrected by now, but instead, they're not far from their all time highs. Strategists on CNBC will tell you "earnings so far have been really good." What the hell? We joke about this being a casino, but it really is....
Some of you may know I'm new to OLED, having just went long over a week ago. The long term chart looks good, and of course the fundamentals are strong. It took a long time for the chart and the sentiment to turn positive, but it did exactly that in January of this year. Don't let the day to day fluctuations take you out, as I think it's still under accumulation. So far it's holding up well, considering the broader market is getting mauled. Stay focused everyone, and "know what you own" as they say.
Next to the futures market, oil is the most manipulated trade of all. Notice all the oil and oil service stocks are also falling. The oil rally is way overextended, and now it's headed back down.
I don't know why you bother, no one believes any of your claims.
Retail is not in the market, in fact there have been net withdrawals from mutual funds for the past two months; institutions have been all in for a long time; the economic news is horrible at best; the markets are clearly overvalued by any metric; the Fed has stated the markets are overvalued; and yet the market is trading at new highs.....The only thing I can think of is shorts are still covering, and the greedy pigs out there are not selling....If this isn't a recipe for a market crash, nothing is......
If you were long VA, which you're not, you wouldn't have posted this garbage. There was no recent downgrade, in fact, the majority of analysts are very bullish on this grossly undervalued airline. The street knew about the union vote, so that's not market moving news. You keep shorting, I'll keep buying.
Three analysts, heavy institutional ownership, and very valuable assets. I see Paulsen making an activist move soon.
Carter Worth is a well respected technician, and he said to sell AMBA. The simple force of gravity will take over soon. When you ask? Well I'm going out on a limb to say the pullback begins in earnest tomorrow, Weds. June 17. I have a good reason for this to happen starting tomorrow, which I will not share right now. I can tell you this from experience. AMBA will not advance much higher, unless it's allowed to pullback and regroup. A move to about $95-$97 within about 3 weeks+ would be very healthy. And since I have the other side of the trade here, I'll be honest and tell you that Ambarella is a great company in a high demand space. But none of that matters, because parabolic moves are not sustainable for long. I'll probably go long in the $90's.....See you there.
Durable goods, biggest drop since 2009, US mfg. PMI, weakest since Oct. 2013, the markets don't care. I'm thinking if Greece cuts a deal, the markets will sell off big time.
You asked about where I got my information regarding institutions as net sellers the past few weeks:
"In a note Tuesday, Jill Carey Hall at Bank of America Merrill Lynch (BAML) wrote that the clients' net sales of US stocks amounted to $4.1 billion last week, the largest total since January 2008.
Most of the selling is being led by institutional investors. Here's Carey Hall:
After three weeks of net buying, institutional clients' net sales last week were the largest in our data history. Hedge funds were net sellers for the ninth consecutive week, while private clients bought stocks last week following the previous week's net sales. Buybacks by corporate clients were slightly lower than in the previous week, but on a four-week average basis have generally continued at a constant pace since mid-May. Net sales last week were chiefly due to large caps (biggest sales ever of this size segment), though small and mid-caps also saw outflows.
The strategists wrote that investors pulled the most money out of healthcare and financial stocks. Last week, outflows from healthcare were the largest on record, they said.
On Friday, BAML strategists noted that investors last week pulled the most from government bonds since the so-called taper tantrum of 2013.
This chart shows that the various client types have steadily pulled money out of stocks in recent months, but institutional investors lead by far.