Monday, July 09, 2007

Holy Schnitzer!

More growth in the Basic Materials sector. Schnitzer Steel Industries Inc. SCHN posting a $9.+ gain on better than expected earnings. People are also piling into the energy sector. ConocoPhillips (COP) spiking over 3% in late afternoon trading due to stock buy-back plans. Valero Energy (VLO) and Exxon Mobil (XOM) continue to move upwards. Gold is up another $7+ today, breaking a $660 resistance level; while Oil slid slightly, though still at extreme levels. And of course you have to give props to the Canadian Dollar, being that it's at a 30-year high vs. the U.S.$ Go Loonie!

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