subject: Stock Newsletter -pt1 [print this page] Daily Stock Report for Tuesday Morning, March 30, 2010 pt1
US stocks resumed up today with the Dow30 moving up 0.4%, Nasdaq Composite up 0.4%, and the S&P 500 up 0.57%. The mutual funds, pension managers and money managers are starting to window dress to improve their first quarter performance figures. This is likely to continue through this week.
We also had the US Dollar drop and the stock market went up, which is an inverse relationship where stocks go up when the dollar moves down and vice versa.
Personal income remained the same and personal spending moved up 0.3% which indicates some people are getting tired of keeping a tight grip onto their money. The American consumer has decades of conditioning to spend so over the long haul, Americans will resume their habits of spending.
An analyst suggested Apple is going to release a new version of the iPhone with Verizon as a long distance option, long been asked for by disappointed AT&T users. AAPL is on a strong uptrend.
Our biggest economic data is the jobs report on Friday which is expected to show unemployment rate to remain at 9.7%. Any substantial increase to $10% or higher would really rattle the market. This is released at 830am eastern time, an hour before the regular market opens.
Scalp of the Day:
ABIO, Arca Biopharma. This was the bullshort idea posted in the aggressive investor-trader section on the last report and was an outstanding short scalp. This had a high of $8.80 to $5.62 for a potential profit on the short side of 56%.
*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.
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.
