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Online Day Trading Newsletter -pt2
Daily Stock Report for Monday Morning, April 26
, 2010 pt2Summary Opinion
All of the major indexes have surpassed the January highs and has resumed its bull market run that started over a year ago on March 10, 2009. Our current assumption is the bull run should continue to make higher highs after any pullbacks.
Calendar (All Eastern times)
Tuesday, 900am, Case-Shiller 20-city Index, -0.1%
Tuesday, 1000am, Consumer Confidence, 53.7
Wednesday, 1030am, Crude Inventories, 1.89M
Wednesday, 215pm, FOMC Rate Decision, 0.25%
Thursday, 830am, Continuing Claims, 4.625K
Thursday, 830am, Initial Claims, 440K
Thursday, 1000am, Existing Home Sales, 5.30M
Thursday, 1000am, FHFA Home Price Index, -0.2%
Friday, 830am, GDP-Adv., 3.2%
Friday, 830am, Chain Deflator, 0.9%
Follow-up notes:
ALNY, Alnylam Pharmaceuticals. Careful with this, stop at $16.70.
WLP, Wellpoint Health. If you missed the sale of this long above $61 and are still long, this should bounce. If not long, consider small long position.
POT, IPI, AGU. These should start moving up except MON is negative looking chart. Avoid MON.
BIIB, Biogen had lower low Wednesday and Thursday so this is looking good again for another attempt at a long position. Look at the increasing volume and faster and faster decline.
Focus chart: (Worden Stockfinder chart)
CPY, Cpi Corp is a stock that may be developing into a bullshort but is not the ideal chart pattern. What we wanted on Thursday was a continuation of the sharp run-up CPY had on Tuesday and Wednesday and but the momentum stalled on Thursday, which isnt the ideal scenario. Continue to monitor for potential short but this one may not work well Please study Bullshorts in The Wizard Training Course BEFORE you attempt to use this trading technique.
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.
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