Superbowl weekend is here and my prediction is that Steelers would win with comfortable margin. Of course lot of folks would like to see underdogs cardinals win but the pressure of appearing in their first super-bowl would be too great to bear. Let's see what happens. I am going to watch it for game and ads - to check out which companies still have money left for superbowl ads:-)
Worst January in terms of major index return is over - this does not look good for the rest of year since "as Jan goes so does the year" has been proven more than 70% time. Dow hovering around 8000 could go below Nov 08 lows before rebouncing. Lot depends on bank bailout plans to be unveiled next week by Obama and team and how stimulus plan does in senate.
Now coming to stock of the week - this week, I am reiterating two of my previous recommendations. OIL and HIG. Both of these were covered in Barron's 2 weeks after I recommended on my blog. This is just re-enforcement of my belief that these sectors have reached bottom. With last two weeks of downdraft, these have become even more attractive. So my recommendation for this week are:
OIL ETF below $ 20
HIG below $ 14
Have a great superbowl weekend!
/Shyam
Worst January in terms of major index return is over - this does not look good for the rest of year since "as Jan goes so does the year" has been proven more than 70% time. Dow hovering around 8000 could go below Nov 08 lows before rebouncing. Lot depends on bank bailout plans to be unveiled next week by Obama and team and how stimulus plan does in senate.
Now coming to stock of the week - this week, I am reiterating two of my previous recommendations. OIL and HIG. Both of these were covered in Barron's 2 weeks after I recommended on my blog. This is just re-enforcement of my belief that these sectors have reached bottom. With last two weeks of downdraft, these have become even more attractive. So my recommendation for this week are:
OIL ETF below $ 20
HIG below $ 14
Have a great superbowl weekend!
/Shyam
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