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 6-10-2009
The DOW traded in a narrow range Tuesday ending down a point. These are the type of days that make traders take the summer off.
The VIX is sitting on its trend line support from a year ago, and is indicating less fear in the market. The commodities were strong, but the financials are losing momentum. The transports advanced, and have room for more.
The new high list has another biotech stock on top. MRNA is working on a cure for bladder cancer. The financial stats on the company are available on Yahoo Finance. It has only 33 million shares in the float, but has gone through so much restructuring; I do not have a feel for the math.
The MNKD mentioned yesterday, was up 12% early in the day, but close flat.
Wednesday could be stuck in another narrow range, while we wait for Thursday’s unemployment numbers, and the key number of the week being the business inventory number.
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