Stock Market
All comments and Stock Market Ananlysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Market Commentary 2-13-2009
Today we have the market waiting on the possible vote on the stimulus package and also a three-day weekend with Presidents’ Day on Monday. This will make traders reluctant to take positions that will have to be held until next Tuesday. So, look for lighter volume and traders leaving early for the long weekend.
With all the economies in the world adding their own stimulus package, it looks like gold should continue to be a safe haven for wealth. The first target is $1000 on gold and a breakout past his has $1200. As all the printed currencies of the world flood the market, the prediction is for gold to double.
ISRG continues to show strength off its low of $87.14 it is trying to break the downtrend line using the lows of December and January. This shown hit $120.00
Most of the earnings are out now, leaving the next two weeks quite. As March arrives, we will get early warnings of profit shortfalls, so individual stocks will have to trade on their own momentum. The stimulus package will still provide the major movements.
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