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 12-03-2009
The DOW traded slightly lower Wednesday, remaining inside the pennant. The volume was also lower than the previous day, which qualifies the day as “noise”.
Gold continued its dynamics closing at 1212. The latest news is Germany will be the next major nation to buy gold, with China not far behind. The move away from paper currency is just beginning.
The GCZ LL call made the advance from $2 to $4 in two days. I closed that position and look to enter the GCZ LP call at $2 Thursday.
The unemployment claims report will be released at 7:30 CDT prior to the market open. It will probably have the same effect as the ADP numbers Wednesday.
The stocks we are following, APWR -.77 the first buy target is 15.50 and then 14.75.
QLTI should pull back to 4.00. RINO look for 27.50. WCRX look for an entry at 23.90, and CAAS wait for 18.50.
The market still appears stuck. We will play gold intraday, and wait for Friday’s employment numbers before entering any other trades.
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