7/30/2013 Morning Blog

Tuesday July 30th 9:38 AM Posted in: Daily Blog

Markets look set to pop about 50 points off the open. Our two plays from yesterday are doing well and should continue, more on GOOG below. Yesterday afternoon a large hedge fund manager but a big stake in CF Industries (CF), the stock responded once the news broke and rose over 20 points. This morning that stock is down in sympathy with the Potash (POT) news coming out of Russia. The POT news has effected several other agriculture names, such as MOS and AGU, on top of this John Deere (DE) was downgraded this morning.

GOOG is kicking off the day with a positive start, there is formidable resistance above as our feature chart show, our puts should be sound unless it crosses back above 890.

Cummings (CMI) reported earnings last night and is up $6, might be worth a play if we can catch the appropriate buy in point.

Financials are still looking a bit tired with Goldman Sachs (GS) leading the pack, I'm gonna keep my eye on this sector for possible entries.

Have a great day everyone!!

 

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