Dow Jones Industrial Average (INDEXDJX:DJI) finally hit the 17,000 mark last week, after the U.S government announced that the economy generated more jobs consequently resulting in a decline in the unemployment rate to 6.1%. The biggest question on Wall Street at the moment is whether all the actions has come and gone considering the Dow has again slipped below 17,000.
MKM Partners Executive Director Jonatan Krinsky was at hand to give some of the reasons why he thinks Cameron International Corporation (NYSE:CAM) and E TRADE Financial Corporation (NASDAQ:ETFC). Will perform better in the future in an interview on Fox Business News.
Mr. Krinsky remains Bullish on Cameron International Corporation (NYSE:CAM) on the fact that it has been flat over the past 18 months but has slowly risen above its resistance levels.
“What I like about Cameron International is it has basically gone sideways over the last 18 months. It is just now starting to break above that,” said Mr. Krinsky.
E TRADE Financial Corporation (NASDAQ:ETFC) is another stock that Krinsky remains bullish on despite sizes of trade volumes remaining flat in the retail sector. Choosing E Trade comes as a surprise considering the stock has remained flat over the past 5 years.
Mr. Krinsky is choosing E Trade on the optimism that retail traders are slowly getting back in, something that should have a positive impact on its stock. Krinsky downplayed The Boeing Company (NYSE:BA) as an investment stock considering it is below its 200 and moving average, and the fact that there are other stocks in the S&P that are above that margin.
“Boeing has now broken under its 200 and moving average, there are many stocks in the S&P that are above 200 and moving average. So if you have a stock below it. It tells you something is probably not right” said Mr. Krinsky
Marathon Petroleum Corp (NYSE:MPC) is another stock that is not under the watchful eye of Mr. Krinsky on the fact that it did receive a big hit on heavy selling volumes recently. The fact that it is also below its 200 and moving average is also one of the other reasons why Mr. Krinsky is downplaying it.
Disclosure: none
