The stock market did well last week, especially on a holiday short-week. We expect the market to move up again this week. The stocks below are relatively low historically, and with good charts. Some of the stocks like JRCC, ACI, SU and FWLT have already moved up, but look ready to move again. The energy-related stocks and solar stocks are on the move. We would be buying them here and on dips. Our normal buying strategy is to buy 40% of a particular stock now and buy 30% more on each 20% decline from our original buy price…for good entry prices.
Our stock picks (the following are solid stocks we like): Suncor Energy (NYSE: SU, Stock Forum) 35.84; Foster Wheeler (NASDAQ: FWLT, Stock Forum) 30.44; Arch Coal (NYSE: ACI, Stock Forum) 23.26; James River Coal (NASDAQ: JRCC, Stock Forum) 19.44…..(the following are risky stocks with good charts or good prices)- China North East Petroleum (AMEX: NEP, Stock Forum) 7.94; Biocryst (NASDAQ: BCRX, Stock Forum) 6.83; MBIA (NYSE: MBI, Stock Forum) 4.33; Oilsands Quest (AMEX: BQI, Stock Forum) 1.16. See charts below-courtesy of Stockcharts.com. The above stock picks were published on Monday, December 28, 2009. The Market Letter was edited and shortened so we could provide the charts below: