Caught the interview on MSNBC this morning with CNC board chairman. He stated that China is continuing its strong position in America. Their portfolio is 46% invested here and it was positive to hear him state they have an ongoing interest. Looking for PTEN to test the 200MA as new rigs are being put in place. http://stockcharts.com/h-sc/ui?s=PTEN Have a great weekend all :)
Hi everone this is my first post on this board. Is it indicative of the strength in the market that the SPY closed at $123.97 while Max-Pain was $120 (3.3% above)? Does this foretell the market moving higher from here? I haven't observed the divergence in option expiry closes previously so have no idea if this is significant or not.
CHART OF THE DAY: You Won't Believe Much The Homebuilder Stocks Have Rallied Joe Weisenthal | Oct. 24, 2011, 9:58 AM
This morning, Citigroup analyst Josh Levin pointed out that inventory of available homes for sale has been collapsing, and that the media hasn't paid attention to this major shift in housing market dynamics.
That may be true, but the market has definitely noticed something going on.
The homebuilder stocks have been on a rocket-ride since the beginning of the quarter, with XHB (the homebduiler ETF) rallying a ridiculous 32% since its low on October 3. It hit a low of 12.21 and is now at around 16.12.
This is a monster move in one of the most hated sectors in the world, and so obviously needs to be paid attention to.
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