Stock Market
All comments and Stock Market Ananlysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Stock Market Commentary 9-1-2009
The markets trended lower after the Asian markets turned in losses, yesterday.
The only tracks left by major traders were from the buying at the close. The indexes cut the early morning losses in half, meaning big money is betting on a pop in the morning.
Trying to find a trade this last month has been difficult. The problem can be summed up in the phrase “Is there any gas left in the tank?” The 3000-point rebound off the March lows, brings stocks to a price that requires a growing economy and lower unemployment rates. If the recession is not nearing the end, the market cannot go higher. If the recession continues, expect more casualties.
Looking for direction from options, I found some volume in GE. The 14 puts are trading at .57, with the stock at 13.90. If the market trades lower in the next 3 weeks, GE would drop to $12.??, and these options should double. If not, you risk .57.
I am still looking for the option trade (puts) on ISRG.
Meanwhile, we have ISM numbers today, along with auto sales, and later this week the big event, Employment numbers on Friday.
Return to Previous Market Commentaries