4 Stocks To Buy In 2010 Q2 Results

July 1st, 2010 | Filed under: Stock Recommendations, , , , ,

Hard to believe we are already half way done with 2010, but we are and it is once again time to take a look at my 4 stocks for 2010.

After throwing up the 1st quarter results, I mentioned that this could be a good sign or bad – obviously we took the latter as the market and my 4 stocks all took a little bit of a beating; nonetheless, given what we have gone through over the last couple of months, I’m still fairly confident that we should come up on the brightside once the year is over.

Remember that this is a year long process, so we shouldn’t get too high or too low on the current standings of these picks.

To learn more about how I read stock charts, check out the resource I have put together at Chart Pattern Manifest.

Before getting into the nitty gritty of it all, lets first look at the results…

Ticker Initial Price ($) Price End 6/30/10 ($) YTD Change (%)
VALE 29.53 24.35 -16.12
SLB 66.39 55.34 -14.98
BAC 15.24 14.37 -4.8
CAT 57.60 60.07 5.4
Total -7.6

YTD Market Change: Dow -6.27% | S&P 500 -7.75% | Nasdaq -7.05%

All data is taken as of market close on June 30, 2010. Total calculated by taking average of all 4 returns.

Considering my returns are right inline with the overall market, maybe I’m too diversified?

Bank of America (BAC)

Technically speaking there is a really nice bounce position for the bank right now; however, other than that, the 2nd quarter has been relatively quite for Bank of America and really all financials for that matter. Much of the attention has been focused on BP oil spill and Europe.

Price targets based on how the stock reacts at the current support area are represented by the dotted blue lines.

view trend analysis

Vale S.A (VALE)

Yet another stock on the verge of support bounce. Based on the fibonacci tool, I wouldn’t be surprised to see this stock come down to the $22 level before heading back up.

Too be honest, I am very interested to see how Vale does in the 3rd quarter as this is normally a good time for the mining company.

view trend analysis

Caterpillar (CAT)

Although it is not breaking the bank, Caterpillar continues to be my leader out of the bunch and the only in the green for the year. It looks like the stock is creating a trading zone between 55 and 70 that it may test a couple times before heading higher.

Caterpillar is globally set and has grown into Brazil (an emerging economy), so as the economy beings to stabilize itself more and more, look for Caterpillar to really take off.

view trend analysis

Schlumberger Limited (SLB)

Schlumberger has no doubt been hurt a lot by BP and the oil spill, although it really has nothing to do with it. I find this too be most evident has the stock has made drastic swings up and down. I like to think this symbolize that the stock should actually be higher, but news keeps bringing it back down.

Lets see what the 3rd quarter does for this stock.

view trend analysis

Overall, I think trying to predict where this market will be by year’s end much last next quarter is pretty much up in the air at this point; however, I think my stocks are primed for either market condition and should hold up fairly well.

Competing Blogger Rankings

Rank Site YTD Return (%)
1 Dividend Growth Investor 6.40
2 The Wild Investor -7.60
3 My Traders Journal -8..21
4 Where Does All My Money Go -14.16
5 Zack Stocks -14.26
6 Million Dollar Journey -17.38
7 Money Smarts Blog -17.69
8 Intelligent Speculator -19.06
9 The Financial Blogger -19.17

All data is taken as of market close on March 31, 2010. Total calculated by taking average of all 4 returns.

What to do now?

A lot has been thrown at you, so what to do now?

  1. Learn how use technical analysis.
  2. Get a free trend analysis of these stocks or any stock.
  3. Leave a comment below. What do you think about the results so far?

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