Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Toddo On TV: To Drill Or Not To Drill?

By

Markets, movers and more.

PrintPRINT
To drill or not to drill? What's good for offshore drillers such as Transocean (RIG), Noble Corporation (NE) and ENSCO (ESV) isn't necessarily good for consumers. Even a major oil discovery off the continental U.S. would do little to ease the pain at the pump in the near-term; it would more than likely take years to bring to production. Toddo sounds off.



Toddo's glaring at Google (GOOG), as there are two downside technical gaps in the stock. The first, created last Friday, resides between $560 and 555. The second, created by the April earnings report, resides between $450 and $525.



Upwards and onwards. The Minyanville chieftain talks trading "tells," an effective way to gauge near-term direction. Sure, they vary from day to day depending on the news -- Lehman Brothers (LEH), for instance -- but there are subtle whispers if you pay attention. Market internals versus intraday moves is one such clue. This morning, during the rally attempt, the breadth of the New York Stock Exchange failed to improve. That was a classic, near-term downside confirmation.

Other tells include Goldman Sachs (GS) and Google in tandem, financials in general, Big Beta Research In Motion (RIMM), Apple (AAPL), Amazon (AMZN) -- and macro crosscurrents.

Position in GOOG

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE