Stock Analysis Pt1

Daily Stock Report for Wednesday Morning, December 23

, 2009 pt1

Stocks continued to move higher probably from the big jump of 7.4% in home sales for the month of November. Investors are interpreting this as the economy is on a recovery mode.

We are also seeing light volume which is typical for the last two weeks of December for Christmas-New Year.

This also tends to have a positive bias with stocks.

The Dow30 was up 50 points or 0.49%, Nasdaq Composite continued its new breakout run today with 0.67% gain or 15 points and the S&P 500 up 0.36%. The Nasdaq Composite is having a nice breakout which has been consistently signaling a higher price level that has been holding.

Small and mid-cap stocks are moving up nicely which has been a recent pattern these past 2-3 weeks. A fair amount of speculation is starting and investors and daytraders responding well. (This gives us a lot of good bullshort ideas).

The US Dollar had little change today.

Gold continues its slide with a lower low of $1,074 and closed at 1084, down 8.80/oz.

REPEAT: We still are looking for a bounce in gold stocks to start when this big drop in gold stops going down for a decent swing trade long.

Mitch King

www.TradeStocksAmerica.com

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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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