Trading Strategies -pt1

Daily Stock Report for Friday Morning, April 9

, 2010 pt1

The US stock market had a follow through on the downside early at the opening with the S&P 500 down as much as 0.6% in the first minutes and moved up through the whole day to close in the positive by the close. Many stocks were moving up much stronger than what was reflected in the indexes. The Dow30 closed up 0.27%, Nasdaq Composite up 0.23% and S&P 500 up 0.34% at the close.

There was a flurry of activity with airline stocks starting yesterday and this followed today when reports that United and US Air are discussing merger. UAUA was up 6.7% and US Air was up 10.7%.

Oil prices to below $85 after reading close to $90 earlier this week. The US Dollar dropped today after European Central Bank Jean-Claude Trichet said Greece was not in danger of defaulting on its debt as he was trying to calm fears after an analyst from a rating organization (Fitch) said Greece should go to the EU or IMF for money. That comment last night brought the futures down with people having the reaction like Oh no, here we go again.I thought we were done with this.

The news in the last couple of months about Greece has been leading investors to believe that there would be a rescue in hand and the fears re-kindled caused a little nervousness yesterday and today. But as it has been repeatedly stated in this daily report that repeated news about the same event has a lesser and lesser effect each time and todays drop early with a rebound confirms that the market is conditioned with this news.

Scalp of the Day:

ARO, Aeropostale dropped early for a classic drop and big pop with a potential profit of 6.6% on a long scalp. BJ, BJs Wholesale Club also had a similar pattern for a 3% potential profit.

*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

POST COMMENT

3 Strategies to Become a Master Mafia Wars Player 5 Mafia Wars Strategies That You Must Know How To Create A Successful Life Using 3 Proven Strategies SEO Strategies: Deep Demographic Profiling Part 2 Successful Day Trading Strategies Strategies To Help Improve Your Internal Communications seo company uses various tools and strategies San Jose Boutique Rooms Shouldn't Be Too Expensive Pay Attention To These Strategies On Ways To Grab Trading Strategies - Smart Investors Always Have A Plan Three Recruiting Strategies You Can Apply Today! 7 Stratégies Pous De Diriger Vers Le Meilleur De Soi! San Jose Premier Suites Aren't Always Out Of Reach Take Advantage Of These Strategies On How To Get Starcraft 2 Strategies