subject: Online Stock Trading Advice Pt2 [print this page] Daily Stock Report for Tuesday Morning, March 2, 2010
Summary Opinion We are at a critical level that could establish a downtrend if lower lows are made or this could be just a pullback within an uptrend. The market has gone through an important short-term resistance level established on February 2nd highs but looks unlikely we exceed the January 19th highs.
Calendar (All Eastern times) Monday, 830am, Personal Income 0.4%, Personal Spending 0.4%, Personal Spending. Monday, 1000am, Construction spending , -0.5%Monday, 1000am, ISM Index, 57.8.Tuesday, 2000pm, Auto and Truck Sales Wednesday, 730am, Challenger Job Cuts, -70.4%Wednesday, 815am, ADP Employment change, -10kWednesday, 1000am, ISM Services, 51.0Wednesday, 1030am Crude Oil Inventories, 3.03MWednesday, 200pm, Feds Beige Book Thursday, 830am, Initial Claims, 475KThursday, 830am, Continuing Claims, 4617KThursday, 830am, Productivity, 6.2%Thursday, 1000am, Factory Orders 1.2%, Pending Home Sales 1.7%, Unit Labor Costs -4.4%Friday, 830am, Unemployment Rate, 9.8%Friday, 830am, Nonfarm Payrolls, -20kFriday, 830am, Hourly Earnings, avg, workweekFriday,300pm, Consumer Credit, -3.8B
Follow-up notes: DTSI, DTS Incs stock zoomed up Friday on news that they will partner with Samsung to provide integrated audio into TV screens. This stock went up 13.6% Friday and continued to move up another 2+% on Mondays high. Consider selling Tuesday at open if not sold already. WSO, Watsco exceeded last weeks high and this is requires a stop to be triggered. Cancel if not short, consider closing if still short.
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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