Stock Investing Pt1
Daily Stock Report for Monday Morning, December 22
, 2009 pt1
Stocks moved up nicely today with the Nasdaq Composite gaining 1.2% today hitting a 15 month high. The Dow30 was up 0.83% and the S&P-500 closed up over 1% Monday.
As mentioned in last nights report the Nasdaq is now taking over as a leader in the stock market indices and this makes total sense with various tech stocks reporting better forecasts than expected and consumers are starting to show some return toward spending (addictions are hard to break).
Several factors that helped move stocks up today was a Fed Governor interviewed by CNBC Steve Liesman made a comment that there will likely be at least 3-4 FOMC meetings before even considering any interest rate increases, if any even occur at all.
We had some analysts upgrades, most notably Intel. This moved the semiconductor index up today, and spread the move up to other chip related stocks.
Alcoa was upgraded as well. The retail stocks Macys, Nordstroms and Sears moved up more than 3% in spite of the big weekend blizzard in the Northeast. Note Amazon.com moved up on expectations that Christmas shopping will be done online as 2 major storms in the USA are hitting this week.
The US Dollar dropped and Gold dropped under $1100 to continue the slide. We still are looking for a bounce to start when this big drop in gold stops going down for a decent swing trade long.
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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