Short Term Investing Pt2
Daily Stock Report for Monday Morning, December 21
, 2009 pt2
Summary Opinion The next couple of weeks are vulnerable to a lot of cross currents with fund managers re-arranging their holdings. Consider reducing long holdings for lower risk and look for substantial exposure to long positions in January. This is not a great time to be heavily long but favors short term positions in swing positions. Also be very selective on what you are shorting.
Calendar Tuesday, 830am ET, Gross Domestic Product, 2.8%Tuesday, 1000am ET, Existing Home Sales, 6.25 M Wednesday, 830am, Personal Income, Spending, Consumption Wednesday, 1000am, ET, New Home Sales, 430kWednesday, 955am ET, Crude Oil Inventories Wednesday, 215pm ET, FOMC Interest Rate Decision Thursday, 830am ET, Initial Jobless Claims, 470KThursday, 830am ET, Continuing Claims, 5.175KThursday, 830am ET, Durable Goods Orders, 0.5%Friday, Christmas Day, Markets closed.
Follow-up: HPJ, see notes below. FTEK, Fuel Tech. This stock was never added to stock list. If long, today would have been a triggered stop, which is set just below the previously bottom which occurred last week on 12-9-2009 at $8.27.PEP, Pepsi. Last half of long position stopped at $60 for $7.1% profit but if you havent closed it this should bounce, maybe to around $61 this next week. WGO, Winnebago corrected right out of the gate on Friday with no follow through from Thursdays move up. There is no trade idea on this stock now.
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.
by: Mitch King
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