Short Term Investing -pt1
Daily Stock Report for Thursday Morning, April 1
, 2010 pt1
ALL USA MARKETS CLOSED ON FRIDAY in celebration of Good Friday.
US stocks had a disappointing end to the first quarter and the anticipated end of quarter buying by fund managers was already exhausted in the last week. The ADP Employment Change was expected to show a GAIN of 40,000 jobs but instead showed a loss of 23,000 March so that cast a negative shadow on the market.
The Chicago PMI (Purchasing Managers Index) was not as strong as expected and Factory Orders were in line with expectations.
We have a lot of economic data coming out tomorrow and Friday. The Unemployment Rate is scheduled for Friday but since the markets are closed on Friday in the USA, we often see that data released on the day before. Either way, this is going to weigh on the market negatively if it is 9.8 to 10% and if it drops to 9.5 or 9.6%, the market will celebrate that on Monday.
Since the US markets are closed Friday, you will be able to see how the European markets react to the US Unemployment rate data if released as scheduled on Friday morning at 830am eastern time.
REPEAT: We are seeing a much larger amount of speculation in small cap and low priced stocks today and this is a sign of a confident investor-trader (even if they are less experienced) and this environment can last for months (or even years) as we saw in late 90s.
This volatility is what allows us to make money using mostly technical indicators and common sense when buying and selling in the stock market whether stocks go up or down.
Scalp of the Day:
ARQL, Arquele. See notes under Focus Chart. Several trades in this both long but mostly short. Stock peaked at $7.49 and closed at $5.77, giving a potential profit of almost 30% on the last short.
*These are the kind of trade ideas we will be giving in the Trading Room, which we are in beta testing right now. Put your email address and name on website page to be notified.
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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