Day Trading Techniques -pt2
Daily Stock Report for Tuesday Morning, April 13
, 2010 pt2
Summary Opinion
All of the major indexes have surpassed the January highs and has resumed its bull market run that started over a year ago on March 10, 2009. Our current assumption is the bull run should continue to make higher highs after any pullbacks.
Calendar (All Eastern times)
Monday, 1000am, Treasury Budget, $67.5B
Tuesday, 830am, Import-Export Prices
Tuesday, 830am, Trade Balance, -$39.0B
Wednesday, 830am, CPI, 0.1%
Wednesday, 830am, Retail Sales, 1.1%
Wednesday, 1000am, Business Inventories, 0.3%
Wednesday, 1030am, Crude Inventories, 1.98M
Wednesday, 200pm, Fed Beige Book
Thursday, 830am, Continuing Claims, 4,600K
Thursday, 830am Initial Claims, 440K
Thursday, 915am, Capacity Utilization, 73.3%
Thursday, 915am, Industrial Production, 0.7%
Friday, 830am Building Permits, 626K
Friday, 830am, Housing Starts, 610K
Friday, 955am, Univ Michigan Sentiment, 75.0
Follow-up notes:
We are starting to see more and more speculative moves in stocks that will eventually become shortable. This could last for weeks or possibly a few months but with intermittent pullbacks. We have very low interest rates, low inflation, recovering economy, and still a lot of skepticism on the sidelinesall which makes an ideal situation for stocks to continue to rise.
This is becoming a ripe environment for bullshorts (see aggressive investor-trader box below).
At least be aware what cycle the market currently is in so you can keep your current investments in perspective to what is happening.
TM, Toyota Motors had that little pop on Friday and sold off today. This could easily rebound assuming you are patient enough to hold much longer. As usual, we take the stance to sell when indicators are turning negative.
Focus chart: (Worden Stockfinder chart)
CPWM, Cost Plus of California is at the early stages of a developing bullshort. This is clearly not ready to short until it moves substantially higher. It would be ideal to see this near $6 or more before considering opening a very small short position. Please study Bullshorts in The Wizard Training Course BEFORE you attempt to use this trading technique.
Mitch King is the founder of TradeStocksAmerica.com. All material presented herein is believed to be reliable but we cannot attest to its accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readers are urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports may change without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stocks cited above before or after this newsletter is prepared. Use the stock table above as a model portfolio of ideas that look attractive at the time of the writing. Comments can be hypothetical in nature. Opinions expressed in these reports may change without prior notice. Disclaimer - Stock investing or stock trading has large potential rewards, but also large potential risk. There is risk of loss as well as the opportunity for gain when buying or selling stocks, bonds, option contracts or engaging in any strategy listed in the Daily Stock Report, The Wizard Training Course, The Trading Room and our seminar or workshops. You must be aware of the risks and be willing to accept the risks when investing or trading in any financial markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell stocks. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
by: Mitch King
What Is Forensic Science? Marine Technology Biometric Face Detection System – Face Detection is a reliable technology Biopharmaceutical Plants using latest technologies Application Virtualization - Embracing Technology SILA is focused on aggressive exploration techniques Can We Grow Taller After Puberty - Discover the 3 Secret Techniques That Can Help You to Increase Height Dental Technology is at an All Time Advanced Stage - So Why Do So Many People Have Such Bad Teeth? Time Warner Cable Deals Great Technology Great Value The Singapore Science Centre - a Treat for All ATM Technology: How Do They Do It? Techniques To Manage Bees While Beekeeping Civilization 5 Science Victory Strategy Guide 'Exposed' - Top Civ 5 Science Victory Strategy Guide