web analytics

Daily Archives: July 11, 2009

Off-the-Bottom is a Tricky Game

July 11, 2009
By
Off-the-Bottom is a Tricky Game

Now, with all that said yesterday, the recent worries about the economy have led to some weakness in the overall market, especially the commodity stocks.  As of mid-day today, the Oil Services Holders (symbol: OIH) is down 21% from its June peak, the Energy Select SPDR (symbol: XLE) is off 22%, and the Market Vectors Agribusiness (MOO) is off 15%.  And many individual coal and shipping stocks have been pummeled. To me, though, these stocks aren’t down because of economic fears.  Instead, I believe it’s just the “off-the-bottom” phenomenon–that is, when stocks that have fallen 80% or 90% during...

Read more »