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 5-18-2009
The DOW was down 62 points Friday on a quiet option expirations close. The market is digesting some of the recent gains. The feel of the market is getting a little shaky.
This week we have some housing data, and leading economic indicators to try to stimulate a new run. Otherwise, if the data is weak, we could continue sideways at best, and down at worst.
This week we have earnings reports from Lowes and Home Depot. These two stocks may be the best indicators of a return of health to the homeowner. The earnings of these types of companies may be the first indicator of the health of the US economy.
The other study of the close of options last week shows ISRG closing at the 150 strike, and other stocks like FCX, closing at 45. These two stocks should show some movement on Monday and Tuesday.
Thursday had six insurers become eligible for TARP money, and Friday had YRCW, the first freight company, requesting TARP money. This is not a good sign of health.
Pay attention this week, and wait for the market to lead.
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