Friday June 2 2023
My overall view of the markets has not changed, we should top in the NASD this month. However recall Warren Buffet is buying occidental like 25% of the company.
There is more than I am up to adding this afternoon so check back this weekend. Here is a start, energy and energy service bullish percent is in the buy territory as is copper and CRB index. While the world is goig wild for TECH which is at its highest ever valuation, look at these charts. Energy and Energy service bullish percent are in buy territory, CRB and Copper are comming off corection from their March highs. As the Administration is bragging that inflation is down, it is surely down temporarily, they may be a great contrary indicator.
While energy is over sold let's watchese stocks below for now. The top I refer to in the open comment is being confirmed so the chance the entire market will sell off is strong.
I will be a adding more content. Here is my short list for now
NR
Insider Stock Buying Reaches US$2.3m On Newpark Resources \
Insider Stock Buying Reaches US$2.3m On Newpark Resources \
PTEN
CLF
MSB - 27% dividend
FRO - 29% dividend
I sill like the NR complex esp the preferred
Comments