“Historic day” definitely refers to the global coordinated interest rate cut by the U.S., England, Europe, and China- the four most influential economies of our day.  I was joking on my Twitter feed how exciting it was that China joined the “Allied Forces.” Yeah, the rate cuts probably took the world a step back from the cliff of a worldwide deep recession, but the positive benefits of the cuts, if any, probably won’t be felt for months and months.  What mattered more for me today, and probably for those who monitor their investment accounts closely, it was just good to have a day where we weren’t in freefall.  Down 200 on the DOW is never a happy day, especially working off a DOW 9450 base rather than a DOW 13000.  Despite the last hour selloff, there was sustained buying for the later half of the day after the initial selloff.  That was encouraging. People weren’t just letting things free fall anymore.  A lot of stocks were actually up today- stocks that haven’t seen the (green) light of day for quite a while now.  Many of these have been blown back to levels of 2, 3, or more years ago where there was sustained buying interest, so maybe those acted as temporary support as well.

So, I grabbed a stock screen off of FinViz.com (the coolest free financial website) of the stocks that were up today.  These might indicate where some buying interest are, and where long term holders have felt the stocks have gotten back to prices where they’d buy them.  Also, a lot of these stocks were held by liquidating hedge funds and, at least for today, they’ve stopped liquidating.  Doesn’t mean they, or their copycat funds, won’t.  So there’ll likely be a lot of resistance (sellers selling into strength).  But after the bounce today and the sellers do their thing, if these levels can hold I’ll dip into a few of these.

About half the list the screen turned up were basic materials stocks (probably another interest rate cut = lower dollar = higher commodities).  A lot of the basic material stocks were the gold miners, f.y.i.

Screen: Market Cap Over $300mln, Relative Volume over 1.5x average

No.	Ticker	Company	Sector	Industry	Country	Market Cap	P/E	Price	Change	Volume
1	ABX	Barrick Gold Corporation	Basic Materials	Gold	Canada	31.13B	16.77	35.71	17.08%	29,922,500
2	AEM	Agnico-Eagle Mines Ltd.	Basic Materials	Gold	Canada	7.26B	63.14	50.51	12.97%	7,672,300
3	ANR	Alpha Natural Resources Inc.	Basic Materials	Industrial Metals & Minerals	USA	2.79B	24.01	39.62	10.79%	8,357,600
4	CAM	Cameron International Corporation	Basic Materials	Oil & Gas Equipment & Services	USA	6.21B	11.94	28.54	8.11%	11,076,900
5	AU	AngloGold Ashanti Ltd.	Basic Materials	Gold	South Africa	5.56B	-	19.71	19.53%	3,736,000
6	AUY	Yamana Gold, Inc.	Basic Materials	Gold	Canada	5.25B	24.23	7.51	18.83%	34,883,100
7	CF	CF Industries Holdings, Inc.	Basic Materials	Agricultural Chemicals	USA	3.24B	4.91	57.31	11.52%	9,480,800
8	CNX	CONSOL Energy Inc.	Basic Materials	Industrial Metals & Minerals	USA	6.77B	38.49	36.95	11.26%	11,352,900
9	FCX	Freeport-McMoRan Copper & Gold Inc.	Basic Materials	Copper	USA	16.36B	5.45	42.60	10.11%	33,631,000
10	GBN	Great Basin Gold Ltd.	Basic Materials	Nonmetallic Mineral Mining	Canada	340.85M	-	1.61	11.03%	1,624,300
11	GFI	Gold Fields Ltd.	Basic Materials	Gold	South Africa	5.84B	10.16	8.94	32.05%	14,869,400
12	GG	Goldcorp Inc.	Basic Materials	Gold	Canada	22.10B	45.62	31.02	19.72%	30,307,500
13	GOLD	Randgold Resources Ltd.	Basic Materials	Gold	Channel Islands	3.17B	74.29	41.60	22.79%	2,454,100
14	HMY	Harmony Gold Mining Co. Ltd.	Basic Materials	Gold	South Africa	4.29B	-	10.66	34.77%	8,845,900
15	HSVLY	HIGHVELD STEEL ADR	Basic Materials	Industrial Metals & Minerals	South Africa	1.19B	8.65	12.02	9.57%	35,700
16	KGC	Kinross Gold Corp.	Basic Materials	Gold	Canada	9.97B	31.76	16.20	18.94%	19,087,400
17	KWK	Quicksilver Resources Inc.	Basic Materials	Independent Oil & Gas	USA	1.95B	3.96	12.29	8.76%	6,945,500
18	LIHR	Lihir Gold Ltd.	Basic Materials	Gold	Papua New Guinea	34.77B	-	18.30	10.17%	1,753,200
19	MON	Monsanto Co.	Basic Materials	Agricultural Chemicals	USA	44.79B	23.88	81.44	9.79%	27,036,900
20	NEM	Newmont Mining Corp.	Basic Materials	Gold	USA	16.95B	533.29	37.33	14.83%	16,291,200

Please visit my stock research tools site, SuckingLess.com, for more resources like FinViz.com

**Disclosure: no positions in stocks mentioned.**

This entry was posted on Thursday, October 9th, 2008 at 2:42 pm and is filed under Banks & Finance, Engineering, Gov\'t & Utilities, Health & Medicine, Media, Oil & Energy, Research Analysis, Retail & Fashion, Stocks, Technology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.