Stock Trading Newsletter -pt1

Daily Stock Report for Wednesday Morning, April 21

, 2010 pt1

The fear about Goldman Sachs civil charges by the SEC continued to subside especially after Goldman Sachs announced outstanding earnings. The US stock market indexes continued to move up again today (Tuesday) and the Dow30 ended up 0.23% while the Nasdaq Composite ended up 0.81%, the S&P 500 also up 0.81% and the small cap sector represented by the Russell 2000 up 1.43%.

It looks like stocks are going to continue to march up with higher highs on the indexes in the next few days, especially the Nasdaq with Apples (AAPL) earnings far better than expected with sales in all product lines very strong.

The expectation was for $2.45 profit per share and AAPL announced $3.33 after the market closed, driving the stock up over $20 at the peak in after hours today. This will drive stocks nicely tomorrow and set a nice bullish tone to the market.

Goldman Sachs (GS) did as expected, a high degree of volatility which is perfectly normal for a stock that has sharply corrected. GS hit a premarket high of almost $167 and sold off $7 to close at $159.98, lower than yesterdays close of $163.32. It is very likely this starts moving higher from here but still with high volatility.

Intl Business Machines, IBM had earnings after the market and the stock sold off as well as Yahoo (YHOO) and these stocks might weigh slightly negative on stocks to counter Apples positive stocks.

The market is in a bullish mood so the two negative earnings will probably not pull the market down as much as the excitement from Apples earnings will keep it positive. Interesting to note that Harley-Davidson, the big motorcycle manufacturer beat earnings expectations today along with Coach (leather goods) so that could be adding to the theory consumers are starting to loosen their purse strings and return back to the USA spending mentality.

The Volatility Index, VIX, has now settled back down to around 16 after climbing to 20 on the Goldman news last Friday.

Scalp of the Day: (all eastern times)

UNIS, Unilife Corp. This hit a high of $8.7 and gave an excellent short signal. It dropped $1 and gave a potential profit of 13% on the short side.

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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