Stock Market Education Pt2
Daily Stock Report for Monday Morning, November 23
, 2009 pt 2
Summary Opinion As stocks move higher or start to turn over, reduce risk by gradually selling stocks as they move up. Raise more cash, hold stocks long that are still going up and for aggressive investors, consider selected short positions.
Calendar Monday, 830am ET, Existing Home sales. Tuesday, Gross Domestic Product (GDP), 2.9%Wednesday, Weekly mortgage applications Weekly jobless claims, Univ Michigan Consumer Sentiment, New Home Sales, Crude Oil Inventories Thursday, 830am ET, Initial Jobless Claims, 504kThursday, 830am ET, Continuing Claims, 5.70M
Follow-up: FSLR, First Solar has corrected for a couple of days and can be looked for a long entry as any day, would be trouble if it goes below 115.00SUN, Sunoco has been on a sharp downtrend for 3-4 weeks along with other oil refinery stocks (VLO, FTO, CVI)CMG, Chipotle Mexican Grill is correctly nicely and probably should be covered tomorrow (Monday). You can see why I like this stock so much because it gives great signals to buy long and to sell short.
Focus chart: NLST, NetList went up on more hype about their upcoming product release some memory module for servers. This really catapulted this bullshort stock to higher highs above the $7 price level. If you are still short this stock from the lower levels, this stock is likely to move up a little more on Monday and probably peaks followed by a sharp correction throughout the week. If your brokerage firm allows you to short against the box, meaning that you can have a long and short position in this stock at the same time, this would be an outstanding way to handle this stock for advanced traders. This will also be an excellent scalping stock on Monday (and probably Tuesday). on the long side after the first big sharp drop in stock price which often is followed by a high profit potential long scalp. If you can borrow the shares and your brokerage firm allows to be long and short, you can profit when the stock goes up or down by managing your long position only. (Advanced traders).
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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