Seeking Alpha

The Oxen Group's  Instablog

The Oxen Group
Send Message
The Oxen Group is a financial analysis and investment opportunities newsletter-based website run by financial analyst David Ristau and features several other traders. Ristau and team have been working in stocks for several years and has developed a knack for identifying winning short-term and... More
My company:
The Oxen Group
My blog:
The Oxen Report
My book:
Marketfy - Option Spread Portfolio
  • FAZ Selected as Buy of the Day 0 comments
    Jun 25, 2009 10:14 AM

    Tomorrow, the market looks bearish, in The Oxen Group's opinions. Tomorrow, jobless claims will be coming out, which are supposed to be down 3,000 from last week, after they rose 3,000 last week. It just does not appear that will happen tomorrow, which will be a bearish indicator. Further, after the Fed report, the market gave up all earnings, making us believe that the market priced in gains earlier in the market and gave up earnings after that. Futures are up an extremely high amount, but in after hours, we saw Nike and Monsanto report weak earnings. To make matters worse, GDP numbers come out tomorrow. Another signal of just how weak our economy is currently. In the financial sector, Bank of America, one of FAZ's holdings, will be headed into court tomorrow with the Fed under investigation. Not bullish for anyone! And, the Oracle of Omaha said he doesn't see any "green shoots." With the market looking to make a move up and be pulled down, FAZ should be a solid pick up for a nice price and move up from there. The market will definitely move down and give up any gains as the bearish market sets in. FAZ is a bit undervalued after some recent movement downwards, but the fundamentals of the finance sector are such that they should move down tomorrow. Slow stochastics are moving up, showing that the financial bear market looks to be moving up. The final bit of news that is bearish for the financials is that Chase is raising fees on transfers. Overall, however, the Fed rally will not last and with what we expect to bearish news, FAZ should be a perfect inverse play.

    See more at theoxengroup.com

     
Back To The Oxen Group's 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

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.