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Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She 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... More
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  • Intraday Market Notes -- July 19 0 comments
    Jul 19, 2012 2:58 PM | about stocks: JJA, USO, DBO, UHN, OIH, CNL, FE, ES, UNS, TEG, SRE, POR, PNW, AVA, LNT

    2:50 pm ET: The SPX is desperately trying to stay above the critical 1375 level and it's unclear whether or not it will be able to manage that, at least for today. The heightened VWAPs on both the positive and negative sides are reflecting the intensifying struggle between the bulls and the bears. A CNBC contributor who was just being interviewed indicated that this market is not for the faint of heart and suggested that if you have to be in it right now it would pay to hedge your bets and trade nimbly. I couldn't agree with him more.

    Looking at the sectors I'm seeing the retail etf (NYSEARCA:RTH) hitting new highs. Obviously the composition of this fund is different from the XRT which is a more widely held retail fund. Although the XRT is up today as well, the fund is 5% off its recent high.

    In commodities, black gold is busting out all over. The oil etfs (USO and DBO) along with the oil servicers (NYSEARCA:OIH) are breaking through resistance levels. The heating oil etf (NYSEARCA:UHN) is also having another up day following its breakout a few days ago. Continuing drought conditions have been pushing ag commodities up including the ag etf (NYSEARCA:JJA) which broke $8 resistance to hit a new multi-year high.

    The unpredictability of this market is making investors shy away from individual stock names and move into dividend paying assets. Recent winners are preferred stocks, especially the 8% issues from Royal Bank of Scotland (NYSE:RBS), investment grade bonds, REITs, banks, tobacco and other consumer staples, and utilities. The focus each day seems to be clustered in a few of these groups and today the spotlight is shining on utilities where many are making new highs: CNL, FE, NU, UNS, WR, POR, PNW, AVA, TEG, LNT, SRE. All yield in the 3-4% range.

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