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 9-18-2009
The DOW continues its journey towards the 10000 mark.
It looks like this will continue into October, when companies will begin announcing their third quarter earnings. The estimates are for $19.00 per share, down from last year’s $26.00. The $19.00 number is up from recent estimates, but still down 26% year over year.
It is still a story of things are getting less bad.
As options expire Friday, look for the market to hold serve, and then retrace early next week. It could be a 200-300 point dip, and then back up as we await Alcoa’s numbers.
I am holding January puts on GE, and still riding the CEDC position. NTRI had a nice bounce yesterday, and if it gets a new following, it has a long way back to its 50% retracement.
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