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Sure hurts to have a big gain turn into a big loss...oh well...that's the market.
I don't subscribe either, but was able to read it.
WPRT Barron's Article
I sold after reading it...
http://online.barrons.com/article/the_trader.html#articleTabs_article%3D2
Started shorts in CMG 432.56 and PCLN 705.33
Edit-Added to CMG at 432.40 and PCLN at 707.46
Closed out longs.
Yeah, pretty ugly. Hard to know whether to take my losses on it here or wait for a bounce.
WPRT thanks, I missed that. Support at 35 seems to be holding for now. Could bounce nice from here if the market can go green.
WPRT getting obliterated today, not sure why.
That's scary.
This is from last year, right?
Is it still going on?
I'm going to watch stocks like this is they continue higher with the market...may look to start shorts in these going into the summer if the market spikes again going into May.
Nice to see the 50 on the SPX holding here...like to see another big white candle on Monday...
It was there from 11:56-12:09 EST...
...on the one minute you can see how 33.20 was a bottom the whole time...I've been watching these since I started trading again in November, and I don't think I've seen one go unfulfilled. Often they are at bottoms and they get cleared out to take out stops below them, and then after a strong volume clean out the stock bounces back above.
I just figure they are tools to influence retail traders because that's whose money they're trying to take, isn't it?
Thanks ;)
Yes, of course it's manipulated, always trying to learn how to trade with them instead of against them.
Question for the board...
...I've noticed that anytime there is a significant sized bid or ask (more than a half a million dollar order), that they almost always fill and the stock goes the opposite direction. Has anybody else noticed this? For example, today, there was a 70k share bid at 33.20 on MCP...it initially brought in buying at the ask moving it .20 higher, but that heavier buying was sold into and eventually worked back down through the 70k share bid. I'm thinking large orders, in this situation, are placed by somebody who wants to short sell, so they put in a large bid, to promote buying and then sell into the buying and then sell into their own bid, covering what they just shorted and pushing the stock lower. It seems to happen in both directions, but I can't recall the last time I've seen a large order like this not get filled. I'm starting to see them as a short term contrary indicator.
Would anybody buying that much stock really throw it all out there in one order without an agenda?
Any thoughts?
China Q1 GDP growth at 8.1 percent, below 8.3 percent forecast
ReutersReuters – 17 minutes ago
BEIJING (Reuters) - China's economy grew slower than expected at its weakest pace in nearly three years in the first quarter, with annual rate of expansion easing to 8.1 percent from 8.9 percent in the previous three months, the National Bureau of Statistics said on Friday.
The fifth consecutive quarter of slowing gross domestic product growth was below the 8.3 percent forecast by economists polled by Reuters.
Obama makes alternative-fuel vehicle push
March 7, 2012: 3:21 PM ET
Speaking at a Daimler truck factory, President Obama proposed a broad set of intiatives for alternative-fuel vehicles.
NEW YORK (CNNMoney) -- President Obama outlined new plans Wednesday to support the sales and use of alternative-fuel vehicles -- including cars and trucks that run on hydrogen and natural gas instead of just those that run on electricity.
The plans are part of a $1 billion National Community Deployment Challenge intended to support the use of natural gas and other alternative fuel technologies, in addition to plug-in vehicles. The president also announced separate incentives to encourage individuals and businesses to purchase alternative-fuel vehicles.
The president proposed increasing the current $7,500 tax credit for advanced technology vehicles to a maximum of $10,000. The credit would also be broadened so that it applies to more different types of vehicles instead of just plug-in cars, as it does now.
"This is good news for any manufacturer who's taking a portfolio approach [to alternative fuel vehicles]" said John Hanson, a spokesman for Toyota.
Toyota (TM) has been working on hydrogen fuel cell vehicles as well as plug-in cars, and plans to have some hydrogen cars on the market within the next few years.
Also, funds from the National Community Deployment Challenge will be used to help 10 to 15 "model communities" create incentives and infrastructure to support advanced vehicles, according to the White House proposal.
Communities will be able to use the funds in support of plug-in electric, natural gas, hydrogen fuel cell or any other advanced vehicle technology. The communities would then become "real-world laboratories," the White House said, providing models for full-scale deployment of these advanced technologies
The program would also support the creation of up to five liquefied natural gas corridors that would allow commercial trucks to use natural gas to transport goods.
Natural gas is less polluting to burn than gasoline and is cheaper on an energy-equivalent basis -- the volume of natural gas producing the same amount of energy as a gallon of gasoline costs much less. Unlike petroleum, natural gas can also be supplied in large quantities in North America.
"By accelerating deployment of alternative-fuel trucks and making electric vehicles more economical, these new initiatives will expand the benefits to our wallets, to our economy and our environment," said Luke Tonachel, senior vehicles analyst for Natural Resources Defense Council, in a statement.
Gallery: Electric isn't the only 'green car' solution
The president, speaking at a Daimler truck factory in North Carolina, also talked about increasing the fuel economy of commercial trucks. Daimler has been a partner in the Energy Department's SuperTruck program, a program aimed at increasing the fuel economy of 18-wheeler trucks by 50%. Daimler makes Freightliner trucks.
Obama proposed a 50% tax credit to cover the additional cost of alternative fuel trucks -- including those that run on natural gas or electricity. Creating alternative fuel trucks often involves purchasing a gasoline- or diesel-powered vehicle and "up-fitting" it to use an alternative power source.
Mike Levine, spokesman for Ford (F, Fortune 500) trucks, pointed out that Ford already has the broadest range of commercial trucks, including vans and large pickups, with natural gas-ready engines. With more demand, he said, Ford is ready to do more with natural gas commercial trucks.
Both General Motors (GM, Fortune 500) and Chrysler Group have announced they will soon be making bi-fuel pickups that can run on both natural gas and gasoline. To top of page
Gapper EEM
looking for positive China gdp numbers, I think they can put out whatever numbers they want and think they will put out good ones so their new leader looks good.
It's happened plenty of times, I'm use to it...
...WPRT and MCP are doing nice for me, both just made new HOD's. You might want to have a look at MCP again here...back over 33
The iphone 5 is gonna be a big one...if the new design doesn't impress, lookout below....
I love my Iphone and 3g is plenty fast for me...
...they don't even have 4g where I live and probably won't til next year.
I expect GOOG tonight and JPM tomorrow morn to be catalysts for a big move tomorrow.
What do you use for watching options?
JPM Announces before the bell tomorrow...
...I think earnings will be good. I believe WFC announces tomorrow too.
Nice move on CLNE...
...have to admit it's a bit sickening to me seeing it up a buck from where I was stopped out, and being down still on the MCP I bought after I sold...MCP is trying to comeback for me though...I think I'll be ok. ;)
Earnings estimates are low, therefore, easy to beat...
...I think they are going to use earnings as a catalyst to have the markets test their highs again before the sell in May.
Drillers dropping diesel for cheaper natural gas
Reuters – 49 minutes ago
By Anna Driver
HOUSTON (Reuters) - North American oil and gas companies are trying to take the sting out of low natural gas prices by using it instead of costlier diesel fuel to drive their drilling rigs.
Oilfield technology such as horizontal drilling and hydraulic fracturing have unlocked record supplies of natural gas in North America, pushing prices to a 10-year low and cutting profits. The oversupply has prompted gas producers to actively promote the fuel as a low-cost, cleaner burning means of fueling vehicles and other equipment.
Apache Corp (NYS:APA - News), the largest U.S. company focused solely on oil and gas exploration and production, is in the process of converting its first rig to run on power generated by liquefied natural gas (LNG). Canada's Encana Corp's (TOR:ECA.TO - News) already has 15 of its more than 40 rigs driven by gas, and plans to convert even more.
"What we need to do is increase the amount of natural gas demand in this country," Steve Farris, chief executive of Apache, said in a recent interview in New Orleans. "From an economic standpoint, it's a no brainer."
Two years worth of fuel savings can cover the cost of conversion, according to Encana.
U.S. natural gas producers including Chesapeake Energy Corp and Apache have long touted compressed natural gas as a fuel for truck and vehicle fleets. Now, more energy companies are looking to natural gas as a means of powering their drilling rigs.
"We've seen interest just kind of explode in the last six to eight months," said Ron Bertasi, chief executive officer of Prometheus Energy Group Inc, which provides LNG and services to energy companies to run drilling rigs.
So far Prometheus, owned by Cargill Inc backed-Black River Asset Management and Royal Dutch Shell's technology fund, service about 10 rigs that have been converted to run on natural gas. Inquiries are pouring in, Bertasi said.
Prometheus, which Bertasi said was first and is so far alone with its technology, has five customers and opened an office in Houston to grow its energy business.
By switching to natural gas, companies can reduce fuel bills and cut greenhouse gas emissions by up to 20 percent, according to Encana and Prometheus. Natural-gas generators are also less noisy than diesel engines.
Prometheus completed its first conversion only 18 months ago, so the business is not yet big enough to service all the shale basins in North America because the LNG is delivered by truck. The company so far has natural gas rigs in south Texas, Louisiana and Rocky Mountain states and is working to expand in other areas, Bertasi said.
And because it costs $1 million to $1.5 million to convert a rig, smaller exploration companies might find the process too costly in the current environment where natural gas prices are hurting profitability.
Chesapeake Energy Corp (NYS:CHK - News), the most active U.S. driller, is working to convert its rig fleet to run on diesel natural gas (DNG). Chesapeake aims to have more than 40 rigs running on DNG by the end of the year.
"To our knowledge, this will by far be the largest rig fleet utilizing natural gas," Kent Wilkinson, vice president of Chesapeake Natural Gas Ventures, said.
Anadarko Petroleum Corp (NYS:APC - News) is also looking into powering its drilling rigs with natural gas and is converting its vehicle fleet to run on gas, the company said.
There was an average of about 1,979 rigs drilling for oil and gas in March, according to data from Baker Hughes Inc.
EVERY BIT HELPS
U.S. natural gas supplies are so vast, converting drilling rigs to run on LNG is not likely to make a huge dent in supply or price.
Still, oil and gas companies are not sitting idly by.
Andrew Coleman, an oil and gas analyst with Raymond James in Houston said the cost savings are a big benefit of using natural gas to power drilling and wide-scale adoption of LNG in the oilfield may be meaningful.
"The biggest consumer of power in West Texas are the oil and gas companies," Coleman said. "To the extent that they can use natural gas from the well head, it will certainly help."
Encana operates its gas-fueled rigs in the Haynesville shale region of Louisiana and Horn River and Jean Marie regions of British Columbia, Encana spokeswoman Carol Howes said.
Some were fueled by field gas and others by trucked-in LNG.
Oilfield services companies are also eying the use of LNG to fuel their massive hydraulic fracturing fleets.
Halliburton Co (NYS:HAL - News) and Baker Hughes Inc (NYS:BHI - News) are owners of some of the largest fleets of trucks in the United States, and also leading providers of the hydraulic fracturing technology that has produced the North American gas glut.
Halliburton said it was "exploring all options" on how best to fuel its truck fleet. Baker has a small test program in Oklahoma where it has converted some of its light-duty vehicles to run on natural gas.
"As natural gas infrastructure develops, we will look at similar pilot programs in other areas," a Baker Hughes spokeswoman said.
(Reporting By Anna Driver; additional reporting by Jeff Jones and Scott Haggett in Calgary and Braden Reddall in San Francisco; Editing by Patricia Kranz and David Gregorio)
If the markets gap down, I'll likely be buying...
...I'm a glutton for punishment.
5 days straight down...gotta bounce soon...
...this is the time for those VBG's(very big gonads)
Gapper WPRT
Buy the blood...
...hopin to grab some more MCP on a pullback at the open tomorrow, but holding 33 will be nice too ;)
End of day strength in WPRT is lookin nice.
Great trade on SHLD...
...WPRT staying green here bodes well for the stock imo...it's feeling strong since the upgrade...we'll see if it lasts.
MARKET TALK: Westport Shares Rev Up On Piper Jaffray Comments
Last update: 4/10/2012 1:13:22 PM
1:13 (Dow Jones) In a decade, when natural gas is as ubiquitous as truck and bus fuel in powering big vehicles, it'll be largely thanks to Westport Innovations (WPRT), says Piper Jaffray in starting coverage of the engine-technology company at overweight and contending the economics of natural gas are just too compelling to ignore. The investment bank believes 20% or more of all new trucks and buses worldwide will be burning liquefied or compressed natural gas by 2017, with an adoption rate double that not far-fetched. Piper calls WPRT inexpensive at current levels--it sets a $47.50 target--and that investors underappreciate the impact increased LNG/CNG penetration will have on the company. WPRT climbs 2.6% to $36.62 as the broader market swoons again.
Yes, I noticed that...we'll see how it plays out...I need to get better at sitting on hands...I usually sit on my feet.
MCP Supposed to give an update on Project Phoenix on Wed...I want to be holding for that. Rumor is they are ahead of schedule and also may get update on HREE discovery.
WPRT Bought some yesterday around 36
Yeah, sold some of my WPRT this morn, but still holding most of it, still barely green. Bought back in MCP, too high, AGAIN, as well...that sure is a tough stock to read.
I still think this market is gonna be run up one more time....
...relief rally rest of the week?