Certainly this first trading week in August has been none too kind to the markets. In fact, every major index is lower for the week, along with crude oil, gold and the euro! Not a particularly good start to August as the "death cross" creeps closer to execution. More on that next week.
The good news is there's always markets that are bucking the trend and today I'm going to be looking at three stocks that gave buy signals yesterday despite the drubbing that stocks took.
The first stock that I'm going to be looking at is American Tower Corporation (NYSE:AMT). American Tower Corporation is a real estate investment trust. It invests in real estate markets across the globe. The firm engages in leasing of space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities and tenants in a number of other industries. American Tower Corporation was founded in 1995 and is headquartered in Boston, Massachusetts.
The next stock is Melco Crown Entertainment Limited (NASDAQ:MPEL). Melco Crown Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 1,400 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 70 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.
And the last stock is Flotek Industries Inc. (NYSE:FTK). Flotek Industries, Inc. develops and supplies oilfield products, services, and equipment to the oil, gas, and mining industries in the United States and internationally. Its Energy Chemical Technologies segment designs, develops, manufactures, packages, and markets specialty chemicals used in oil and gas well drilling, cementing, completion, stimulation, and production. This segment also constructs and manages automated material handling facilities; and manages loading facilities and blending operations for oilfield services companies. The company's Consumer and Industrial Chemicals Technologies segment develops, manufactures, and processes citrus oil products for the flavor and fragrance, and specialty chemical industry, as well as for beverage and food companies, and companies providing household and industrial cleaning products.
Have a great trading day and a wonderful weekend.
Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
