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 3-18-2009
The market is in congestion, letting option erode going into expirations. Most likely, we will tread water going into the afternoon until the Fed meeting statement is released at 1:15 this afternoon.
The IBM – Sunmicro acquisition is worth addressing. The focus is, it is paying cash and not issuing stock for this. That is a good indicator about stock price. If IBM thought its stock was overpriced they would use stock over cash, and under-priced means use cash.
It looks like yesterdays up move will be followed by todays down move, as option prices erode to zero for March.
Last gold is weak and breaking a trend line support. Breaking through this makes the next support at the 82-82 level.
The DOW has 7250 as first support followed by 7000 as secondary for the balance of the week.
Return to Previous Market Commentaries