Monday, September 26, 2011

20110926 PM, possible buys: FCX NUE SCCO

Dow 11,043.86 +272.38
Nasdaq 2,516.69 +33.46
SP500 1,162.95 +26.52. Looks to test 1170 tomorrow then 1201 and 1230.
30-yrBond 3.00% +0.13

Stock indices are bouncing and may strongly run higher into end-of-quarter window dressing.
Dollar slightly lower, though not backing off.
Gold tested 1550 and silver tested 26. Gold and silver made scary lower price tests, taking out stops, then recovered. Wait for a retest of today's lows to consider buying.
GLD 157.58 -2.22. Supposedly sold 5.4 metric tons of gold today, though they didn't sell last Friday. This is a huge sell and could mark a bottom (in the next couple days if they have more to sell).

SSO 40.10 +1.91

Copper producers:
FCX 33.77 +1.40. Freeport McMoran. 3.1% dividend. Buy around 28.
SCCO 26.57 +0.37. Southern Copper Corp. 9.7% dividend. Buy at 19.16.

Other miners:
AUY 14.16 +0.44. 1.2% dividend.
GBG 1.88 +0.11
NEM 64.39 +1.53. 1.8% dividend.
SVM 7.27 +0.54. 1.1% dividend.

NUE 32.79 +1.22. Nucor Corporation. 4.6% dividend. Nearing a buy.

CNSL 18.46 +0.55. 8.8% dividend.

No comments: