subject: Stock Charts . Pt2 [print this page] Daily Stock Report for Thursday Morning, March 25, 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:
CLFD, Clearfield stalled Wednesday and looking for Thursday for slightly higher prices to sell into.
Focus chart: (Worden Stockfinder chart)
SOMX, Somaxon Pharmaceuticals had a small rise as far as bullshorts go, and peaked out at $9.65, well below the $10.60 last Friday. This rebound is very typical and as long as this stays below $10, and then goes down, it should head down for days to under $8. These comments are based on what usually happens to most bullshorts. Target price should be around $7.
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