Stock Market Newsletters -pt1

Daily Stock Report for Tuesday Morning, April 20

, 2010 pt1

The fear about Goldman Sachs civil charges by the SEC were short-lived as the financials made a comeback a lot sooner and stronger than most expected. The Dow30 ended up 0.67% or 73 points while the Nasdaq Composite ended down slightly along with the small cap sector as shown in the Russell 2000 being down 0.45%. The SP-500 was up 0.45% as many financial stocks also are in that index.

The real facts are starting to surface about the Goldman Sachs (GS) case and that is the company defended itself by saying it is a single event in which they made a market in. Credible analysts and commentators also made similar conclusions but you know by now the market reacts emotionally first and asks questions later and that is the very reason why we can consistently make money in the market because of this fact about human nature.

It is group behavior at its best that causes an imbalance by an irrational conclusion and with the correct training you can recognize what is an opportunity.

Goldman did make a lower low today early after the regular market opened and went down $7-8 and moved up $10 from there into the close. This could easily drop a couple of dollars but eventually move into the $170s within a couple of weeks. Expect erratic trading action and high volatility but the general trend should be up as the case the SEC looks fairly weak. Even the governing board of SEC had a split decision of 3 to 2 to go ahead with the case against Goldman which indicates they do not unanimously believe this is an airtight case against them.

The $1 billion case means nothing, thats all for show. It isnt a case of fraud that they are going after for restitution to refund retail customers. These were accredited (sophisticated and wealthy) investors who knew what they were doing and Goldman was involved with making a market in that financial instrument.

I am absolutely convinced there was pressure from the White House on the timing and the sensationalism in an attempt to get public opinion for Obamas financial reform bill he has been pushing. You guys who have read this report in the last couple of years know I rarely talk about politics but this is now giving us an opportunity that started Friday that even a caveman can see.

Scalp of the Day: (all eastern times)

MTB, M&T Bank gave an excellent short signal at 10:09am and peaked at $86.84 and dropped to $83 for a potential profit of 4.6%.

These are the kind of trade ideas we will be giving in the Trading Room, which we are in beta testing right now. Put your email address and name on website page to be notified of actual launch date and info.

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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