Discussion in 'Stocks' started by Landis82, Apr 27, 2007.
GD, LLL, LMT, and NOC continue to rock to the upside.
I love trading this sector!
This whole group has been acting pretty well since last Thursday ahead of the Senate's $162 Billion "Supplemental" vote this week. Already passed the House last week.
lol define acting very well
RTN caught an upgrade this morning.
+$1.88 on the day and at an 11-day high after successfully testing the $57.00 level on several occasions.
GD traded back up to the highest part of the range for the past 12 days even though the broader market has been dumping lower.
LMT is trading ABOVE last week's highs at $103.85
LLL made new lows for the move into yesterday and rallied from $94.23 near yesterday's close up as high as $95.80 today. The stock is incredibly oversold and no longer trades at a 4% premium to the primes in the sector and also sports a cash flow to yield premium basis its peers to the tune of 23%
Above $95.80 I want to be long for a potential inverted H&S pattern with a close above $96.57 confirming a low.
Last Thursday the House approved a $162 billion defense supplemental for Iraq and Afghanistan. The package heads to the Senate for vote this week.
Ain't doing so hot today
NOC is down 4,63% and rest of the stuff isn't much behind
aside from getting hit today, anyone have an opinion on ESLT?
Strong gains across the sector today:
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Note: LLL received an "Outperform" upgrade by Cai von Rumohr of SG Cowen today.
Pentagon Aims to Shift War Costs to Base Budget, Add $57 Billion in FY-10
"The Office of the Secretary of Defense is readying a plan to shift predictable war costs from supplemental appropriations requests into the Pentagon's base budget, a move that could tack as much as $57 billion onto the fiscal year 2010 spending plan and an additional $300 billion onto the new six-year military investment blueprint the Defense Department is preparing, according to DOD sources.
Such an increase, according to defense budget experts, would make long-term planning for Pentagon officials easier but could present the next administration with a pair of politically difficult choices: Accept a significantly larger base military budget -- and the responsibility for its deleterious effects on the federal deficit -- or roll back DOD spending during a time of war."
InsideDefense.com - - - July 3rd, 2008
If I was Cai I would be careful giving investment advice with that kind a name. Actually he should apply at a short selling hedge fund
True to his name, bon Rumor only puts out good rumors.
Separate names with a comma.