stock Market Education . Pt1

Daily Stock Report for Tuesday Morning, March 23

, 2010 pt1

Stocks moved up today after an initial drop in the first 30 minutes and closed up today on all indexes. This clearly shows the market had already priced in the bad news of the health reform bill passing and now that the uncertainty is out of the way, the market looks surprisingly resilient.

The Dow30 closed up 0.41%, Nasdaq Composite up 0.88%, the S&P 500 up 0.51% and Russell 2000 had the biggest swing from low to high and closed up 1.34% today alone, close to its 18 month high set last week.

The House of Representatives approved the health care bill by only four people which Obama obtained by assuring the current abortion policy wont be touched.

We had anticipated health stocks to take a big hit but that was mixed. A few insurance companies actually gained today, Cigna (CI) and Aetna (AET).

Google (GOOG) is still fighting with China over the censorship issue and the stock has been influenced over that battle. Google has moved its search engine from mainland China to their Hong Kong location which will be another test for the communist government which now controls Hong Kong after the British returned control to China 13 years ago.

There is still some residual fear leftover regarding the Greece debt situation after the German Chancellor made waves by saying that Greece doesnt need financial support and should solve their own debt problems.

Scalp of the Day:

The healthcare stocks gave a nice short just after the opening by going up the first 15 minutes and selling off sharply for about 2% profit. WLP, HUM, and UNH.

*These are the kind of trade ideas we will be giving in the Trading Room, which we are in beta testing right now.

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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