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 11-06-2009
The Employment numbers came out this morning with the job loss figure dropping to 190,000. The unemployment rate reached 10.2%. The continuation of “less bad” and the question “Is this the end of the recession?” seems to be answered. We are bottoming.
As I write this, the market has recovered its initial 60-point loss and is now up 10 points.
The economy has returned from the abyss it reached in March. The big banks have returned to “profit”. The productivity and inventory data show levels that relate to future hiring. The next leg will have plenty of successes and failures.
The improvement is not in the US. This is a global shift. The recovery is in the BRIC nations.
Gold is over 1100.
Where do you place your money for the next wave?
The multinational stocks would be the most obvious bet.
GE was upgraded today. At $15, it has a long way back to $40 and even more room to its $60 high in 2000.
GE is a safe bet, followed by technology. Stocks like MFST, IBM are good candidates. The manufacturing sector is still dangerous. Watch UPS and FDX for early indications of the health of our economy.
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