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Online Day Trading -pt2
Daily Stock Report for Friday Morning, April 23
, 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)
Monday, 1000am, Leading Indicators, 1.0%
Wednesday, 1030am, Crude Oil Inventories, -2.2M
Thursday, 830am, Continuing Claims, 4,600K
Thursday, 830am Initial Claims, 455K
Thursday, 830am, PPI (Producer Price Index), 0.5%
Thursday, 830am, Core PPI, 0.1%
Thursday, 1000am, Existing Home Sales, 5.30M
Thursday, 1000am, FHFA Home Price Index, -0.2%
Friday, 830am Durable Orders, 0.2%
Friday, 830am, Durable Orders w/o Auto sales, 0.6%
Friday, 1000am, New Home Sales, 325K
Follow-up notes:
GS, Goldman Sachs should be starting to head up soon and probably to higher highs in the coming week or two.
WLP, Wellpoint Health continued to move down further today after Wednesdays peak of $61.49 and now gave up most of that profit. If you are still long, this should start moving up but if this goes below $58, this could be a problem so consider setting your stop just under $58.
POT, IPI, MON, AGU did move down as expected and had some rebound from todays low (Thursday). 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)
RDCM, Radcom. This is the last chart we will show of RDCM but we wanted to follow through that little downside was left on Thursday with an increasing risk these rebound back up. 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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