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 10-12-2009
The DOW gained 78 points on Friday to close at 9865. This is just shy of the 9918 high set two weeks ago. The market is waiting for earnings data to make its run over the 10000 level.
The market calendar has no significant economic data releasing until Wednesday.
Monday, the Columbus Day holiday has the stock market open and the bond market closed.
The earnings calendar is a different story. This week has a number of the top 20 heavyweights reporting.
INTC, GOOG, JNJ, BAC, and GE are among the leaders. Their results and the following conference calls will play a major role in the direction of the next leg of our stock market.
This will be a critical measure of the strength of the US economy. Earnings have been ratcheted higher for the third quarter, but are still way below the numbers of two years ago. Some are predicting as many as two of every three companies could fall short of these estimates. The next two weeks will give us a better view of company value.
If you feel need to play, you can buy calls or puts on the S&P. Your choice.
The best play is still gold. GCZ JY is the 103 call for October, selling for $1.10. With two weeks left until expiration, it is a cheap play.
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