Stock Market
All comments and Stock Market Analysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Stock Market Commentary 12-01-2009
The DOW bounced from its initial 64-point loss to end the day up 34. It held with in the resistance and support defined by the pennant mentioned yesterday.
The Chicago PMI came in at 56, better than expected (positive), and the Dubai debt crisis has brought a wait and see attitude from traders (non-event).
Volume was stronger, making today positive.
The dollar was little changed. Gold was up, still a safe haven. I did get in the GCZ LL call at $2.00, with a tight stop of $.25.
I tried to buy CAAS, but I refused to chase the open. I will look for another opportunity Tuesday.
The stocks mentioned yesterday, APWR -.35, QLTI +.16, RINO +1.90, WCRX +.11, and CAAS +2.42.
Tuesday’s ISM number may move the market, but the most interesting comment Monday was a prediction that Friday’s employment number will not be negative. (The estimate is -120,000). If this story gains attention, we could break out of the trading range.
Watch RINO and CAAS, they should be good for a point.
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