Stock Trading Strategies Pt2

Daily Stock Report for Wednesday Morning, February 10 pt2

Summary Opinion We are at a critical level that could establish a downtrend if lower lows are made or this could be just a pullback within an uptrend. The odds of a downtrend starting is becoming more likely looking at last two trading sessions.

Calendar Tuesday, 1000am, ET, Wholesale Inventories, 0.6%Wednesday, 830am, Trade Balance, -35.0BWednesday, 1030am ET, Crude Inventories, 2.32MWednesday, 1000am, Treasury Budget, -$60BThursday, 830am ET, Initial Jobless Claims, 454KThursday, 830am ET, Continuing Claims, 4600KThursday, 830am ET, Retail Sales, 0.4%Friday, 955AM ET, Univ. Michigan Sentiment, 74.8

Follow-up notes: TM, Toyota Motors is making higher highs and moved to a high of $75.54. This should get a lot more buying over the coming weeks as this is a longer term hold compared to our swing trades.

Focus chart: (Worden Stockfinder chart)

UHAL, Amerco moved up another 5.5%. Continue to watch this for a peak in price, possibly as high as $49-50 before considering any short position. It is best to let this start going down before opening a short position. REPEAT: This is the U-Haul company that has been plagued by financial problems for years. The surprising profit announced on Thursday has driven the stock up but note that Friday the stock did not exceed Thursdays high which is a sign of weak. See if this moves up first before selling short. This is not a bullshort.

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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