Stock Trading Ideas

Real Time Stock Trading Advice pt2

Daily Stock Report for Monday Morning, March 8, 2010 pt2

Summary Opinion

The market indexes have approached the January highs and the Russell 2000 (small caps) has exceeded that, establishing this as a bull market that is resuming after a pullback. When the Dow30, Nasdaq and S&P 500 exceed the January 2010 highs, stocks should move higher.

Calendar (All Eastern times)

Monday, 1000am, Wholesale Inventories, 0.2%

Monday, 1030am, Crude Inventories, 4.03M.

Monday, 200pm, Treasury Budget, -$210B

Tuesday, 830am, Continuing Claims, 4495K

Tuesday, 830am, Initial Claims, 460K

Tuesday, 930am, Trade Balance, -$41B

Wednesday, 830am, Retail Sales, 0.2%

Wednesday, 955am, University Michigan Sentiment, 73.8

Wednesday, 1000am, Business Inventories, 0.2%

Follow-up notes:

TM, Toyota Motors had had higher highs Monday with $77.94 as intraday high. This is acting good as this should get into the low $80’s. Don’t be in any hurry to sell TM.

TNH, Terra Nitrogen opened down this morning below $86 and touched $84.95 on the bid and stayed between $85 and $87.50 for most of the day until the company released a statement clarifying they have not borrowed from their credit facilities in over 5 years and that their cash positions are over $81 million. This is probably in response to some rumors, perhaps on some article on a website. The daily chart pattern shows it had an accelerating sell-off this past week with increased volume but closed up 5.4% today. Consider selling the next couple of days.

ENER, Energy Conversion Devices spiked up late in the session today and closed up 8.63%. Start watching this closely if you are long to look for an exit point. The basic approach to the last two stock ideas is to capture the bulk of the profits after big moves up like we have seen.

Focus chart: (Worden Stockfinder chart)

TIVO, Tivo had another up day on Friday of 5.9%. Still looking dangerous as a bullshort UNTIL we see signs of this turning over. This has been best traded as long scalps (intraday trading) so far but could eventually turn into a decent bullshort at some point.

Mitch King is the founder of TradeStocksAmerica.com. All material presented herein is believed to be reliable but we cannot attest to its accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readers are urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports may change without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stocks cited above before or after this newsletter is prepared. Use the stock table above as a model portfolio of ideas that look attractive at the time of the writing. Comments can be hypothetical in nature. Opinions expressed in these reports may change without prior notice. Disclaimer – Stock investing or stock trading has large potential rewards, but also large potential risk. There is risk of loss as well as the opportunity for gain when buying or selling stocks, bonds, option contracts or engaging in any strategy listed in the Daily Stock Report, The Wizard Training Course, The Trading Room and our seminar or workshops. You must be aware of the risks and be willing to accept the risks when investing or trading in any financial markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell stocks. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

About the Author

The Daily Stock Report Newsletter is a stock trading newsletter where you receive a text and video report the night before each trading day with stock picks, market commentary, trading strategies, and educational tutorials for online stock trading.

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