Seeking Alpha

Dr. Kris'  Instablog

Dr. Kris
Send Message
Dr. Kris has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her satisfaction), she decided to tackle something even more difficult—the stock market. Applying the scientific method along with an insatiably... More
My company:
Stock Market Cook Book
My blog:
Stock Market Cook Book
  • Intraday Market Notes & Observations -- July 9 0 comments
    Jul 9, 2012 3:26 PM | about stocks: CORN

    2:20 pm ET: Market action today is rangebound despite the increasingly bearish tone to the internals. It appears as if the Street is waiting to see how Alcoa is going to kick-off earnings season when it reports after the bell. Analysts have lowered their quarterly estimates on the aluminum maker quite a bit. However, should the company beat expectations, even by a little, a rally could be sparked as investors might feel cheered into thinking the economic slowdown may not be as bad as predicted. Of course this is only speculation but what else do we have to go on right now?

    Ag-based commodities continue to soar as the prospects of a bumper crop continue to diminish due to adverse weather conditions. The corn etf (NYSEARCA:CORN) is up 5% today alone--that's a huge move for this issue. But is it too late to get into it? Technically, the stock has risen 33% to $48 in just a few weeks and is closing in on its all-time high of $50. Of course, this fund has only been trading for two years so it's possible that it could leave the $50 level in the dust, but why take the chance? The stock has climbed so far so fast that it's not unrealistic to think that a little "irrational exuberance" has been adding some fuel to the rally. In this regard, then, it's not unthinkable that a sharp pullback could be in the offing. Attempting to buy into this right now is the equivalent of trying to catch a rising knife (as opposed to a falling one).

    Themes: Commodities Stocks: CORN
Back To Dr. Kris' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Stepping out of the ordinary. Please like #SelfieABC #saveSelfie because of great talent & values. The show is in danger of extinction.
    Dec 5, 2014
  • Help! I never mentioned TV shows that have wonderful writing & acting & are being cancelled but if U or any of your female clan like...
    Dec 5, 2014
  • Market Notes: Another Move Higher Or Is The Market Ready To Roll-Over?--December 4 http://seekingalpha.com/p/23k69
    Dec 4, 2014
More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.