Joy Global Inc (NYSE:JOY) is a leading manufacturer of mining and farming equipment. The stock has been selling off over the past two trading sessions. This morning, JOY stock is declining lower by $2.00 to $90.70 a share. When a market leader such as JOY stock declines it could be telling us that the mining business is beginning to slow down. BHP Billiton Ltd (NYSE:BHP) is also trading lower today by $1.15 to $80.62 a share. Earlier today. BHP reported earnings and guided slightly lower in 2012. It is important to note that mining and mining equipment related companies have lead the markets higher recently.
Leading mining and farm equipment manufacturers such as Caterpillar Inc (NYSE:CAT), Deere & Co (NYSE:DE), and Tractor Supply Co (NYSE:TSCO) are all trading lower. If the mining and mining equipment sectors starts to rollover it could tell us that the recent stock market rally is coming to an end.
|With Zacks Method for Trading you'll transform yourself into a Master Stock Trader, one simple step at a time. Get step-by-step instructions and learn how to use the 28% per year Zacks Rank system to find market-beating stocks on your own, fully exploiting the system that beat the market 18 of the last 20 years. Find out how >>|
|Zacks Top Ten Stocks for 2011 are now available! This 10-stock portfolio is a well-balanced mix of aggressive and conservative, large and small cap, growth and value. Buy them. Hold them. Watch your gains add up|
|Make Big Bucks promoting Zacks products on your website! Click here to Learn about Zacks' Affiliate program.|
Ride Momentum Stocks to Quick Gains!
The market is finally breaking out, creating the perfectd wave for investing in momentum stocks. Zacks is the king of fundamental analysis, but this service also uses technical indicators for the best possible timing. Click here to learn more >>.