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Tuesday, April 21, 2009

Stock Market April 22, 2009 4/22/09

The Stock Market bounced Tuesday as financials led the charge higher after being oversold in pre market. The Financial Bull 3X ( FAS ) was trading at $5.50-$5.60 in pre market as traders couldn't sell fast enough. FAS was just $9.50 on Friday!! As I stated last night, my buy zone was $5.86-$6.20 for a bounce and FAS is now trading at $7.00. I will let FAS settle down for now and try to figure out the next major directional move. However, for a trade, i'd be a buyer below $6 again. Citigroup ( C ) hit support between $2.60-$2.70 and is now almost $3.25. Huge swings in the financials! This just goes to show you, these stocks are trading vehicles and not long term investments right now.

Wednesday, April 22, will be another volatile day as investors prepared for maybe the busiest day of the earnings season so far in 2009. I will be watching what comes out of Wells Fargo ( WFC ), Morgan Stanley ( MS ), and Apple Inc ( AAPL ).


Stock Market April 22, 2009

Earnings Reports due out in the Morning:

Altria Group MO 4/22 8am .40EPS

AT&T T 4/22 8am .48EPS

EnCana ECA 4/22 8am .68EPS

Freeport-McMoran FCX 4/22 8am .15EPS

McDonald's MCD 4/22 8am .82EPS

SLM Corp SLM 4/22 8am .20EPS

Boeing BA 4/22 8am 1.21EPS

Wells Fargo WFC 4/22 8am .55EPS

Morgan Stanley MS 4/22 8am .43EPS

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Economic Data: 4-22-09

Crude Inventories - Due out at 10:35am EST
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Apple AAPL 4/22 4pm 1.08EPS

Chipotle Mexican Grill CMG 4/22 4pm .54EPS

eBay EBAY 4/22 4pm .34EPS

F5 Networks FFIV 4/22 4pm .38EPS

Qualcomm QCOM 4/22 4pm .41EPS

Steel Dynamics STLD 4/22 4pm -.43EPS

VMware VMW 4/22 4pm .20EPS

Xilinx XLNX 4/22 4pm .18EPS


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

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