Online Stock Trading Newsletter Pt1
Daily Stock Report for Tuesday Morning, February 23
, 2010 pt1The stock market closed down slightly after selling in the last hour took stocks from a slightly positive to an 19 point drop on the Dow30 and smaller losses on the Nasdaq and S&P 500.
We might see a little bit of nervousness over the Bernanke testimony Tuesday and Wednesday but the market is always nervous about something.
Obama was on television today continuing to convince the public he is doing a good job as his approval ratings are at near all time low. The market did its normal behavior and sold off toward the lows after he was done. We havent seen a President speak so much in our history of trading stocks, not even Clinton. He does have a difficult challenge though at turning the economy around.
He has switched to pick on the healthcare stocks again today from the financial institutions. And this see-saw targeting causes gyrations in stocks like AET, WLP, HUM, UNH.
On Sunday, the National Association for Business Economics increased their forecast for an economic recovery that is slightly better than their previous forecast. This may have kept a underlying bullishness of the market today. We are likely to see some mild selling start this week so the swing and intraday trades will continue to rule.
Mitch King
www.TradeStocksAmerica.com
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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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