subject: Stock Trading Seminars Pt1 [print this page] Daily Stock Report for Monday Morning, March 15, 2010 pt1
The bull run continues again Friday in the US stock market with a steady and low volatility day almost lulling an active trader to sleep. The Dow30 had a slight gain of 0.12% and the Nasdaq and S&P had little change.
The retail sales number was better than expected and helped open stocks higher at the open. As mentioned months ago in this report that the consumer is going to eventually return to their old habits of spending. Americans cant stay at a low level of spending to the extreme as it was last Fall, even if conditions continue to be difficult.
We have even see the film industry receive the highest volume dollar of ticket sales last year as people look for an emotional escape to inexpensive entertainment.
The University of Michigan consumer sentiment index dropped slightly but didnt to affect the market today. The business inventories had a slight drop but these two numbers are not important data right now.
The Federal Open Market Committee meets next week and announces any interest rate decision on Tuesday at 215pm ET. The key point to watch for is any change in the language from maintaining interest rates at a very low level for an extended period of time. If that language for some reason, is not in the release on Tuesday, traders will start selling first and ask questions later but its likely that phrasing will continue to be present for an extended period of time.
Other key data next week is the PPI and CPI, Producer Price Index and Consumer Price Index, which are inflation indicators. If these spike higher than expected, the interest rates remain low for an extended period of time language could be taken off the table sooner than the expected later.
Scalp of the Day: SVU, Supervalue was a buyout rumor which we saw when it hit the news wires and was at $16.38. We didnt go long, unfortunately because 20 minutes later this hit $17.89 and we shorted this toward the top and this dropped to $16.89 for a potential profit of 5.9% of which we got a part of.
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