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
Stock Market Commentary 7-9-2009
The Dow managed nothing Thursday, closing up 5 points. The S&P and Dow are relatively flat or down for the year, but the NASDAQ is up some 11%. There is a group that is suggesting the tech stocks as the best play out of the recession.
Right now, it is difficult to find an angle to play the market. We are in limbo, waiting for news, or earnings, or a conference call that will create some movement.
The call from Alcoa was not good. The loss for the quarter was less than expected. They only lost just less than half a billion dollars. The analysts made sure they overshot the estimate, to give the possibility that the bottom might be in.
Does anyone think the market makers would want us buying if this were a bottom?
If you caught the first five minutes of Cramer’s show, you saw him praising the Alcoa earnings, (BS), and then giving China and Brazil the credit. I am afraid I have to agree with the last part of Cramer’s comments.
The way out of the US recession is through China, Brazil, India, and Russia. The US is still suffering the hangover of the crazy spending of the last decade.
The US economy is at least a year from turning the corner, and it looks like we will have a retest of the March lows. Get Ready!
The plays are getting more and more selective. A stock on the new high list Thursday was ICUI. This has good financials, and deserves a hard look.
Meanwhile, Put the Emerging funds ETF’s, along with the Brazil ETF on your watch list. I will be reviewing some of these, and will have evaluations in the next weeks.
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