Trading Strategies -pt2
Daily Stock Report for Friday Morning, April 9
, 2010 pt2
Summary Opinion
All of the major indexes have surpassed the January highs and has resumed its bull market run that started over a year ago on March 10, 2009. Our current assumption is the bull run should continue to make higher highs after any pullbacks.
Calendar (All Eastern times)
Monday, 1000am, ISM Services, 53.6
Monday, 1000am, Pending Home Sales, -1.0%
Tuesday, 2000am, Minutes of FOMC Meeting
Wednesday, 1030am, Crude Oil Inventories, 2.93M
Wednesday, 300pm, Consumer Credit, $1.6B
Thursday, 830am, Continuing Claims, 4,600K
Thursday, 830am Initial Claims, 440K
Friday, 1000am, Wholesale Inventories, 0.1%
Follow-up notes:
RIG, TransOcean and other oil stocks gave the opportunity we were looking for to cover at a lower price early this morning. Most oil stocks rebounded after a drop so the short trade idea in oil stocks is over. Look at SU, Suncor Energy with an exaggerated drop to $33.20 and a 6% rebound from the bottom. This type of trading action completes and washes out the idea we were looking for. NE, Noble continued down today and CLR, Continental Resources rebounded sharply after a lower low this morning
PTRY, Pantry Grocery Stores just kept moving up another 2.87% at the close today, still no news that we can find but if still long, this is likely to start turning over very soon so consider taking profits Friday.
TM, Toyota Motors stock is turning down now with all technical indicators are pointing down. Consider selling after a positive day in this backing and filling action. Keep a trialing stop loss set, maybe 5-7%.
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
Trading Strategies -pt1 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