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 2-17-2009
This is the week of option expirations. As the futures are indicating, premarket, we have weakness this morning. I do not expect we will have a free fall in any direction this week. The stimulus package was approved and will be signed today, and more details will be coming forth, indicating where and when we will see its effect.
I see the market up big one day and down big the next, all for paychecks for the market makers. The net effect for the week is flat to slightly down.
Gold is still showing strength and should continue to rise.
Individual stocks are trying to find their leaders. In this type of market, 9 out of 10 stocks follow the indexes so again play the short-term bounces and favor cash as a safe haven. It looks like we have a continuing down market on the horizon, with 6900 level as a target for the next level of pain.
I am still playing ISRG using its 5 point daily swings to make profits.
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