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 6-8-2009
The DOW gained 12 points to end the week up 3%. The close on Friday was weak, but Mondays have been up days for eleven of the last thirteen weeks.
This week is light on the economic calendar, so most of the momentum will come from last weeks employment and housing numbers.
The DOW should make its first attempt at the 9000 level, and may continue toward the moving average at 9225. The total market is being driven by the strength in commodities, and the financials. The first break in either of these will mean a stall in the rally.
You can play FCX, MT, ACH. The Chinese internet plays have been strong, look at SINA, NTES, SOHU, and the king BIDU. BIDU has a possible 50-point move.
The BDU FA option (310 call for June) should pop for 3 points in an up market.
The next leg in the market should be up, with the S&P struggling as it reaches the 1000 target.
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