Rotational Rally Moving into Stocks that Were Stars of 07

A lot of the same groups at the top of the leaderboard in late 07 and early 08 are now once again the focus as this market goes from group to group, running them up. These sort of things were about a quarter of my portfolio back then; haven’t touched any of this merchandise for at least 2 years.

We were heavy into oil service type names – this group is flying…

National-Oilwell Varco (NOV)

Oceaneering International (OII)

And infrastructure which is usually a “late cyclical” group (i.e. runs well into a recovery)

McDermott International (MDR)

Foster Wheeler (FWLT)

While I am interested now due to excellent charts, it is so difficult to just chase in after these after such moves…

The other group all over the 52 week high list is “oil exploration” – I hate buying individual names in this group since they act so random, but here is an ETF that has a good sampling of names.

SPDR S&P Oil & Gas Explore & Prod. (XOP)

But there are probably 25 charts I can pull up in the group that looks like this…and oil has not even really broke out yet:

MarkWest Energy Partners, L.P. (MWE)

Disclosure: No positions

About Mark Hanna 542 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

Follow Mark on Twitter @fundmyfund.

Visit: Market Montage

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