MUMBAI (MarketWatch) ? Asian shares fell sharply Tuesday, with steel makers among the top decliners, following global peers lower on growth concerns.
Hong Kong?s Hang Seng Index HK:HSI ?lost 2.2%, the Shanghai Composite Index CN:000001 fell 1.4%, and Japan?s Nikkei Stock Average JP:NIK ?ended 0.6% lower.
South Korea?s Kospi KR:0100 ?dropped 0.8%, and Australia?s S&P/ASX 200 index AU:XJO ?closed with a 1.4% loss.
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Stocks slip on growth data
Stocks bounce back from morning losses but still end the day lower amid concerns about slowing global economic growth.
U.S. shares had ended the day with small losses Monday, with investors taking their first chance to react to China?s cut to its 2012 growth estimate. Read more on Chinese GDP target.
Data out later Monday weren?t inspiring, with a gauge of euro-zone business activity falling into contraction territory in February. Read more on European PMI.
U.S. data showed a better-than-expected reading for the Institute for Supply Management?s non-manufacturing index, but orders to U.S. factories declined in January for the first time in three mo! nths. Read more on factory orders.
Monday?s U.S. numbers were just the start for this week?s data-heavy calendar, which culminates with U.S. nonfarm jobs data on Friday.
?I think that people are focusing very heavily on what?s going to happen with the U.S. jobs number on Friday. Up until now we?ve been mostly worried about Greece and oil, and this is the third man at the party,? said Andrew Sullivan, a strategist at Piper Jaffray.
As for the cut to China?s GDP forecast, Sullivan said: ?I think some were slightly hopeful that [China] was going to maintain with 8% growth ? being the lucky number. That would mean that we would have got more stimulus.?
With global growth back under the spotlight, commodity-linked firms weakened in Asian trading, after many key resource prices moved lower overnight.
In Australia, BHP Billiton Ltd. AU:BHP ? BHP ?and Rio Tinto Ltd. AU:RIO ? RIO ?lost 2.3% apiece.
Japanese oil majors declined, with JX Holdings Inc.JP:5020 ? JXHGF ?down 1.2%, and Inpex Corp. JP:1605 ?IPXHY ?lower by 0.9%.
In Hong Kong, Aluminium Corp. of China Ltd. HK:2600 ? ACH ?fell 5.3%, while Jiangxi Copper Co. HK:358 ? JIXAY ?lost 4.8% and PetroChina Co. HK:857 ?PTR ?fell 2.3%.
Molten steel stocks
The cut in China?s economic outlook and indications the nation will scale back infrastructure spending weighed on steel makers across the globe, with U.S. Steel Corp. X ?ending down 4.7% in New York, and ArcelorMittal SA NL:MT ?MT ?dropping 3.8% in Europe on Monday.
?If you believe there?s going to be a slowdown in China, and that they are maintaining all their tough policies on property, then there?s going to be less requirement for steel construction,? said Piper Jaffray?s Sullivan.
?Certainly with non-construction steel, specialist steels and the marine-type steels, the other thing to bear in mind there is that...if China is slowing down, there?s going to be less need for shipping as they are going to importing and exporting less.?!
Asia-Pacific steel firms under pressure included OneSteel Ltd AU:OST ?OSTLF , down 3.4% in Australia, while in Seoul, Posco PKX ?shares were down 3.4% and Hyundai Steel Co. HYNSY lost 1.8%.
Japanese steel maker Kobe Steel Ltd. JP:5406 ?KBSTF fell 3.8% after the firm said that it won?t pay a term-end dividend due to challenging trading conditions. Rival JFE Holdings Inc. JP:5411 ?JFEEF ?declined 3.1%, and over in Hong Kong, Angang Steel Co.HK:347 ? ANGGF ?fell 7.6%.
Shares exposed to global trade also suffered Tuesday. Hong Kong-listed ports operator Cosco Pacific Ltd. CSPKY ?fell 5.1%, while Seoul-listed shipping firm STX Pan Ocean Co. lost 4.6%.
Among Japanese shippers, Mitsui O.S.K. Lines Ltd. JP:9104 ? MSLOY ? dropped 2.8%, while Kawasaki Kisen Kaisha Ltd. JP:9107 ?KAIKY ?fell 3.8%, and Nippon Yusen K.K. JP:9101 ?NPNYY ?dropped 2.5%.
Back in Hong Kong, AIA Group Ltd. HK:1299 ?AAIGF ?tumbled 8.4% as shares resumed trading after news that American International Group Inc. AIG ?had sold off shares in the insurer. See report on AIG sale of AIA shares.
Other Hong-Kong listed insurance firms were also under pressure, with Ping An Insurance (Group) Co. PNGAY ? HK:2318 ?and China Life Insurance Co. LFC ? HK:2628 ?both down 3.7%.
Mazda Motor Corp.JP:7261 ? MZDAF ?climbed 2.! 3% after the firm set the price late Monday for a share offering that?s expected to raise $1.8 billion.
Showing posts with label Energy Stocks. Show all posts
Showing posts with label Energy Stocks. Show all posts
Thursday, March 29, 2012
Saturday, November 12, 2011
Top Oil Stocks 2011/2012 – Top Oil Stocks to Buy 2011/2012
Oil Stocks to Buy 2011/2012- 2011/2012 Oil Stocks
Below is a list of my latest oil stock picks for 2011/2012. These 2011/2012 Oil Stock Picks are my favor stocks to buy and some of the stocks I will be trading personally. Last year, one of my top oil stock picks was Brigham Exploration (BEXP). BEXP stock went from $15 to $27 from July to December of 2010 and was one of my biggest stock gainers of the year. I feel 2011 will be a good year for stocks and the overall stock market. Oil in 2011 should hit $110-$120 which would make the oil stocks rally even higher.
Key Areas of Oil Exploration in 2011 – Eagle Ford Shale – Niobrara Shale – Bakken Shale – Permian Basin – Oil Discoveries are still going on in these fields and in 2011, more Oil Discoveries will be made. Keep an eye on the Chainman Shale – Cabot Oil & Gas (COG) mentioned in late 2010 that they are drilling for oil in the Chainman Shale. We also have Venoco (VQ) drilling the Monterey Shale in California. With that, here is a list of my best oil stock picks for 2011
#1 Top Oil Stock Pick 2011/2012 – Oil Stocks – Hyperdynamics Corporation (HDY) – While Hyperdynamics (HDY) is my top stock pick of 2010, it is a risky one. The company has no revenues and does not make any money but could be sitting on a very large pool of oil off the coast of Africa. Drilling for oil is expected to begin in December 2011. Hyperdynamics was headed into a downward spiral over the past couple years but changed the management team in 2010 who vowed to take the company in a new direction. Hyperdynamics has a very large prospective leased area off the coast of the Republic of Guinea. In November 2010, Hyperdynamics raised $30 million in a private placement from financial giant Blackrock (BLK) which will help in preperation costs to drill for oil in late 2011. Hyperdynamics did a few surveys and believe they could be sitting on billions of barrels of oil.
As for HDY stock in 2011, It is my top stock to buy and my best trading idea. I have been trading HDY since the stock was $1.60 in August 2010 and gave it a price target of $4 – $6 for 2011. HDY hit a high of $3.63 in October 2010 and continues to trade around $3.00 as we head into 2011. If everything goes as planned and the company does infact sit on top of a large oil pool, we could be looking at a $8-$10 stock by year end 2011 in my opinion. I gave it a target of $4 – $6 when the stock was hitting $2.60 just to be on the conservative side. Of coarse, if Hyperdynamics announces any delays or lesser oil reserves, all bets are off. Pullbacks below $2.50 should be a great buy if you are looking for an entry point. I currently own HDY stock for the long term and will buy more stock on pullbacks. If you have any questions or feel like discussing HDY stock, visit my HDY message forum thread.
#2 Top Oil Stock Pick for 2011 - Kodiak Oil & Gas (KOG) – Kodiak Oil & Gas was another huge stock gainer for me at the end of 2010. I bought KOG stock at $4.30 in mid November 2010 and sold between $5.00-$5.70 a month later. KOG went on to hit $6.69 a few weeks later. Kodiak Oil in Gas recently aquired additional acreage in the Bakken Shale. This acreage is in some of the best zones in the Bakken which includes the Three Forks Oil zone. When I originally bought KOG at $4.30, I placed a personal target of $8-$10 on it for 2011. I am sticking with this and feel the stock could even hit $12. A lot will depend on what oil does but ultimately the stock is going a lot higher. While I don’t own KOG right now, I plan to buy the stock on any major correction.
Below is a list of my latest oil stock picks for 2011/2012. These 2011/2012 Oil Stock Picks are my favor stocks to buy and some of the stocks I will be trading personally. Last year, one of my top oil stock picks was Brigham Exploration (BEXP). BEXP stock went from $15 to $27 from July to December of 2010 and was one of my biggest stock gainers of the year. I feel 2011 will be a good year for stocks and the overall stock market. Oil in 2011 should hit $110-$120 which would make the oil stocks rally even higher.
Key Areas of Oil Exploration in 2011 – Eagle Ford Shale – Niobrara Shale – Bakken Shale – Permian Basin – Oil Discoveries are still going on in these fields and in 2011, more Oil Discoveries will be made. Keep an eye on the Chainman Shale – Cabot Oil & Gas (COG) mentioned in late 2010 that they are drilling for oil in the Chainman Shale. We also have Venoco (VQ) drilling the Monterey Shale in California. With that, here is a list of my best oil stock picks for 2011
#1 Top Oil Stock Pick 2011/2012 – Oil Stocks – Hyperdynamics Corporation (HDY) – While Hyperdynamics (HDY) is my top stock pick of 2010, it is a risky one. The company has no revenues and does not make any money but could be sitting on a very large pool of oil off the coast of Africa. Drilling for oil is expected to begin in December 2011. Hyperdynamics was headed into a downward spiral over the past couple years but changed the management team in 2010 who vowed to take the company in a new direction. Hyperdynamics has a very large prospective leased area off the coast of the Republic of Guinea. In November 2010, Hyperdynamics raised $30 million in a private placement from financial giant Blackrock (BLK) which will help in preperation costs to drill for oil in late 2011. Hyperdynamics did a few surveys and believe they could be sitting on billions of barrels of oil.
As for HDY stock in 2011, It is my top stock to buy and my best trading idea. I have been trading HDY since the stock was $1.60 in August 2010 and gave it a price target of $4 – $6 for 2011. HDY hit a high of $3.63 in October 2010 and continues to trade around $3.00 as we head into 2011. If everything goes as planned and the company does infact sit on top of a large oil pool, we could be looking at a $8-$10 stock by year end 2011 in my opinion. I gave it a target of $4 – $6 when the stock was hitting $2.60 just to be on the conservative side. Of coarse, if Hyperdynamics announces any delays or lesser oil reserves, all bets are off. Pullbacks below $2.50 should be a great buy if you are looking for an entry point. I currently own HDY stock for the long term and will buy more stock on pullbacks. If you have any questions or feel like discussing HDY stock, visit my HDY message forum thread.
#2 Top Oil Stock Pick for 2011 - Kodiak Oil & Gas (KOG) – Kodiak Oil & Gas was another huge stock gainer for me at the end of 2010. I bought KOG stock at $4.30 in mid November 2010 and sold between $5.00-$5.70 a month later. KOG went on to hit $6.69 a few weeks later. Kodiak Oil in Gas recently aquired additional acreage in the Bakken Shale. This acreage is in some of the best zones in the Bakken which includes the Three Forks Oil zone. When I originally bought KOG at $4.30, I placed a personal target of $8-$10 on it for 2011. I am sticking with this and feel the stock could even hit $12. A lot will depend on what oil does but ultimately the stock is going a lot higher. While I don’t own KOG right now, I plan to buy the stock on any major correction.
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