Investor Education Pt1

Daily Stock Report for Thursday Morning, March 11

, 2010 pt1

The Dow30 had little change today but the Nasdaq Composite was the big winner today (again) and closed up 0.78%. The S&P 500 closed up 0.5% today as well and the uptrend the indexes are taking are a steady and sustainable pattern.

The banking stocks continued the momentum that started a few days ago, especially Citigroup (C) and AIG. See full discussion of AIG strategy under Focus Chart and in Scalp of the Day box.

A guest speaker on CNBC this morning probably helped banking stocks move up by saying that in a few years the banks will start resuming big payouts of profits in a form of dividends.

Also, Citigroup had a preferred offering of 80 million shares at $25 with a 8.5% yield on the preferred shares. Reports are circulating that British bank Barclays is considering buying a US retail bank so the whole sector is really strong right now. Remember the market is like a 12 year old girl whose emotions and attention span are volatile.

A year ago, banks were treated like they had the Old Testament leprosy and today analysts are predicting 40% payouts in dividends. Well, thats why we can make consistent money because of exaggerated moves that tend to return to a neutral position.

We are in a bullish environment at the moment but can change at an economic data reports notice. Initial jobless claims tomorrow could add some more bullishness to the market if the claims are substantially less than the 460,000 expected but is more likely claims will rise as the snowstorm in the Northeast will be reflected in this report.

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

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