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 10-30-2009
The DOW gained 200 points Thursday on the back of the GDP number. A 3.5% increase and the recession is over, forget about the cash for clunkers and the bailout.
The market is still in a trading range until we get more data. Friday, we have Chicago PMI and consumer confidence and next week ends with the Employment number.
The market environment has changed since the March lows. The Financials lead the market lower as everyone wondered if anyone would survive. Now, the banks have been saved, but the lending system is still in neutral. The global stocks are strong, but the smaller US companies are still in the last-man-standing mode.
Globally, the world is still in a growth mode. The US is the weak link. The measures the US government has taken are consistent with the preservation of our financial system and therefore our economy.
Gold should continue to run, while the market should base for the next week.
As October closes, the focus is whether the indexes can close higher for the eighth month in a row.
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