stock Market Education . Pt2
Daily Stock Report for Tuesday Morning, March 23
, 2010 pt2
Summary Opinion
All of the major indexes have surprised the January highs and has resumed its bull market run that started over a year ago on March 10, 2009. The current assumption is the bull run should continue to make higher highs after any pullbacks.
Calendar (All Eastern times)
Tuesday, 1000am, Existing Home Sales, 5.0M
Tuesday, 1000am, FHFA Home Price Index, -0.9%
Wednesday, 830am, Durable Orders, 0.5%
Wednesday, 1000am, New Home Sales, 315K
Wednesday, 1030am, Crude Oil Inventories, 1.01M
Thursday, 830am, Continuing Claims, 4,560K
Thursday, 830am Initial Claims, 450K
Thursday 830am Continuing Claims, 4500K
Friday, 8300am, GDP, 5.9%
Friday, 955am, Univ. of Michigan Consumer Sentiment Index, 73.0
Follow-up notes:
TM, Toyota Motors stock just ignored the bad press and moved up today to higher highs over $80. This long position is acting very strong and could get some decent momentum on this stock. Consider adding a little more on this long position but dont get too overweighted into one stock, ever.
Focus chart: (Worden Stockfinder chart)
SOMX, Somaxon Pharmaceuticals is a bullshort that has been difficult to find shares to short. There are no stock options either. We are a day late to present this idea to you but at least follow this to learn the bullshort trading model as this one unfolds. Target price should be around $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
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stock Market Education . Pt2