Stock Market April 14, 2009 4/14/09

We are half way through the day on April 13, 2009. The Stock Market has been red all day partly due to profit taking from last week. Wall Street does not seem to like the General Motors ( GM ) bankruptcy news as it becomes more evident this will be the likely path. Shares of General Motors are trading at $1.70, down 16%. Shares of Ford ( F ) aren't budging today, flat at $4.24.

The financials are red hot for the 2nd straight day due to the Wells Fargo earnings news out last Thursday. For a brief moment today, shares of the Financial Bull 3x ( FAS ) ETF were worth more then shares of the Financial Bear 3x ( FAZ ). Since closing over the 50 day moving average, FAS has been on fire!

Watching: Agfeed Industries ( FEED ) - Huge breakout on heavy volume Monday. If you can recall, FEED reported outstanding earnings last quarter! I have my own personal price target of $5-$7 by 2010.

Stock Market April 14, 2009

Earnings Reports due out in the morning:

Goldman Sachs GS 4/14 8am 1.10EPS

Johnson & Johnson JNJ 4/14 8am 1.22EPS

W.W. Grainger GWW 4/14 8am 1.08EPS

Fastenal FAST 4/14 8am .34EPS

As the above earnings releases start to trickle in, we will then be hit with some economics data.

PPI, Core PPI at 8:30am
Retail Sales at 8:30am
Business Inventories at 10:00am

We then have a few earnings reports due out after the bell.

CSX Corp CSX 4/14 4pm .57EPS

Intel INTC 4/14 4pm .02EPS

I will post my stocks to watch list later today, Right Here

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