Stock Trading Newsletters -pt1

Daily Stock Report for Thursday Morning, April 22

, 2010 pt1

US stocks closed slightly up and had a positive bias today as earnings from public corporations dominated todays news. The Dow30 ended up 7 points, Nasdaq up 0.17%, S&P 500 down 0.1% and the Russell 2000 up 0.64%.

Trading action was low volatility with no big themes that affected the market today. There was no economic data that influenced the market and in general, earnings were better than expected for most companies.

Goldman Sachs stock pulled back today slightly and should start moving up. Goldman CEO Lloyd Blankfein will testify at a Senate panel next week and this is highly like that the stock will move up sharply during if not before the testimony. As more facts have been surfacing about SECs case against Goldman Sachs, the weaker the SECs case appears and next weeks testimony is likely to confirm that.

It is interesting to see Obama categorically denies any involvement with the Goldman Sachs case today. He must have gotten some pressure from the readers of The Daily Stock Report. I didnt realize how much influence you have on our President because he sure was defensive today about the issue.

This is highly likely to see Goldman Sachs (GS) stock move higher and you should seriously consider buying a small long position in this stock on Thursday. By waiting for the testimony next week to see the comments by Blankfein, it will likely be too late for you to get a good price.

As I have been using the saying, the train is leaving the station, means that it will soon be too late to get this price.

Scalp of the Day: (all eastern times)

IMAX, Imax has given us multiple scalps in the last 4-5 weeks and Wednesdays short scalp gave a profit potential of 6.9%.

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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