subject: Learn Exchange Traded Funds Pt1 [print this page] Daily Stock Report for Friday Morning, March 12, 2010 pt1
The bull run continues in the US stock market with the S&P 500 gaining 0.4% making a 17 month high above the 1150 mark. The Dow30 and Nasdaq both rose 0.4% as well today.
Jobless claims were 6,000 less than previous week and were close to expectations of the 8,000 lower claims. The general consensus among economists is that it is still unclear whether payrolls will start increasing at businesses.
Some of the banking stocks continued the momentum that started a few days ago, especially Citigroup (C) but AIG peaked today at $38.45 and sold off to $35.02. Other banking stocks continued to do well.
The foreclosure has temporarily improved but the number is expected to worsen as bad weather probably delayed foreclosures. Various experts are expecting a higher rate of foreclosure in the coming months.
Right now we are looking for any more news or economic reports that will help continue to boost stocks upward. Tomorrows reports of Retail Sales, University of Michigan Sentiment and Business Inventories which could add to the bullish sentiment if these are good.
Note the strikes and protests in Greece affected our Greek bank stock NBG, but the stock is likely to continue moving up.
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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