Starting off today's recap right with Facebook (FB), which is most certainly worthy of an update. Facebook announced it would not do a secondary offering to pay its tax bill (1st highlight below), then today Zuckerberg's set to speak live at TechCrunch Disrupt (2nd highlight below), and we can clearly see Institutions are backing the stock. Translation, FB is showing key signs of an established bottom and looming higher prices. *UPDATE* 5:38 PM - Zuckerberg just got off stage and FB is trading +$.87 (+4.47%) to $20.30 after-hours.
Next up, Oil, which was a reader request. Oil has been trending sideways and out of the limelight technically but hard to ignore considering gas prices are at record highs. I paid $71 recently to fill up my SUV, $4.59 per gallon, just crazy absurd.
And there is Natural Gas which is below with ETF UNG. Natural gas affirmed a credible bottom back on June 14th and looks like it wants higher prices. Considering Oil and the validity for natural gas as an energy producer here in the US, it is becoming increasingly more in demand and worth keeping an eye on.
One more quick chart before the indices, this of United Natural Foods (UNFI), which is a play on the organic food market. From my Marketsmith account, the stock shed 8.6% on weak 2013 guidance, finding support at its 50 day moving average (learn all about them at InvestingTeacher). Important to note as it will affect peer stocks like Whole Foods Market (WFM) long term. A caution flag for those still long the organic trend.
Last but not least, updated looks at the market indices. Stay frosty out there and we'll see all 15,000+ of you back here tomorrow!
