Retail Sales

What’s going on this morning?

Well continuing yesterday’s rant on oil, I noticed that it was back up above $64.00 this morning. I think that can be expected after seven straight days of declines. Some random people I canvassed said they expected oil to head back up. I did however find a report on the TD Canada Trust website, under the economics section called the TD Commodity Price Report. In it they talk about a US slowdown, the return of the BP pipeline, the diminished forecasts for this hurricane season, and the discovery of additional oil in the Gulf of Mexico. All this they say will contribute to a decline in the price of oil. Their one year price target is $55.00. I don’t know if I agree with their price target, but I do think that the price of oil will decline over all.

Retail sales numbers were also released this morning and they rose 0.2% vs an expected 0.3%. So what happens? The markets sell off and the Dow ends up starting the day down. All this because of a difference of 0.1%? Well I guess when you talk in terms of the United States spending, a 0.1% difference translates into a lot of money. Maybe the US economy is slowing after all?

Well SCUR is down a little but it is managing to stay above $7.00. That’s a good thing. Somewhere in the bottom of my gut is a feeling that the markets will finish the day in the positive. Well we’ll have to wait and see. If the markets finish in the positive, I think we can see SCUR around the $7.20 - $7.25 range. How’s that for hopeful optimism?

CLRK looks to be down about 20 cents on completely anemic volume. When are all the people out there going to realize what a great company this is? Oh well. Long term means long term, right?

The MFLX I was looking at is down another dollar. Maybe it will return to the $18 level where I planned to buy some in the $18 dollar range after I hit my target on SCUR. But alas, it was not to be. MFLX made its run from $18 before I could sell SCUR at $7.56 so I put any thought of selling CLRK to chase MFLX out of my mind.

Most of the other stocks on the list that I put together don’t really stand out as being a potential next buy, except maybe for one that I will look further into talk about latter. If anyone has a stock they see as particularly interesting, feel free to say what it is and why you like it as a comment.