subject: Stock Market Newsletters Pt2 [print this page] Daily Stock Report for Wednesday Morning, February 17, 2010 pt2
Summary Opinion We are at a critical level that could establish a downtrend if lower lows are made or this could be just a pullback within an uptrend. The odds of a downtrend starting is becoming more likely looking at recent trading action.
Calendar Tuesday, 200pm, ET, Treasury Budget, -$46.0BWednesday, 830am, Building Permits, 615KImport-Export Prices, Mortgage Applications, Wednesday, 830am ET, Housing Starts, 580KWednesday, 1000am, Treasury Budget, -$60BWednesday, 915am ET, Industrial Production, 0.8%Wednesday, 915am ET, Capacity Utilization, 72.6%Wednesday, 200pm ET, FOMC Meeting Minutes Thursday, 830am ET, Continuing Claims, 4500KThursday, 830am ET, PPI, 0.8%Thursday, 1000am ET, Leading Indicators, 0.5%Thursday, 1100am ET, Crude Oil Inventories, 2.42MFriday, 830am ET, CPI, 0.3%
Follow-up notes: TM, Toyota Motors stock was doing well until headlines released today that the US has intensified the probes in the recalls and that San Antonio production has been halted. The stock was down 1.3% in an strongly up market. It is a little early to tell if this uptrend we have seen in the last week or so has topped or will resume up in the next few trading days.
Focus chart: (Worden Stockfinder chart)
TSTC, Telestone. Looking for a short entry point but wait until this stops going up and ideally to see this drop first before opening small short position.
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