Wang’s Happy Trading

Well, besides watching XLF for the overall market conditions, what else are interesting?

Chinese Stocks (FXI)

FXI has completely recovered from the correction and is at a new all-time high!! Many of the popular Chinese ADRs are doing the same, and seem to be ready to go even higher. ACH, CHU, CHL, and LFC, for example. ACH has jumped from below 35 to over 54 in 1 week!! That’s over +50%!! Now, don’t forget CEO, PTR, BIDU, CTRP, and I’m sure there are plenty of others!

Oil Services (OIH)

OIH has risen above its 30-day MA, and, this sector can certainly run. NE is splitting on the 29th. DO and SLB were also strong on Friday. Depending on the overall market conditions, I may be looking go back into these.

Shipping
Buyers seem to be going back into this sector. TRMD, DRYS, EXM, TK, OSG, TDW all went up on Friday. Out of these, I like TRMD, DRYS, and EXM more than the others.

Mining and Metals (XME)
This sector was very strong this week. It jumped +3.39% on Friday! BHP, RTP, ATI, FCX, PCU, X, NUE, MT all had a strong day on Friday, especially MT, a whopping +7.95%!

After this 10% correction, a lot of things seem a lot cheaper. But, please be careful and watch the overall market conditions.

Enjoy the rest of your weekend!
HappyTrading! ™