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Aden Forecast "Energy and resource stocks are bottoming. . .keep them."

ReportEnergy
Date07/21/2010
Loaded Date07/21/2010
TitleUnusually Uncertain
QuoteThese are the words of Ben Bernanke today when describing the economic recovery: "The Federal Reserve may be preparing more stimulus as the decline in homebuilder confidence and housing starts is coming on the heels of the end of credit for homebuyers."

The markets appear poised to rise further, which would coincide with another stimulus. The general stock market, as well as crude and copper (the gauge for energy and resource) are bouncing up from their major supports. As long as the Dow Industrials, oil and copper stay above 9850, $73.50 and $2.92, respectively, a bounce up will continue—which suggests a calmer economic recovery. Our energy and resource stocks are bottoming as are our stock positions. Keep them.

Energy stocks are bouncing