Category — Day Trading

Well it’s no surprise that the smart money is taking some profits in this market.  Any level such as DOW 10,500 is going to have enough program trading in the derivatives market and the underlying stocks that selling is almost a given.  It’s good to see the DOW fighting off a late surge of bear aggression and holding above DOW 10,500.

Of course, as I predicted in regards to the EU situation, Greek Prime Minister George Papandreo went to Obama today and requested assistance in the current crisis.  This sent the EURO and Pound Sterling into a steep decline.  Fitch came out now concerned with debt concerns over Spain and Portugal (again as we predicted) but said Greece was concerned, a low level concern for default?  I mean who is he kidding?  Again that’s the great thing about the market.  Odd news coming out of China and negative news coming out of the EU will have an interesting affect on the markets today.  So it’s contrarian and right leaning news prevailing on the wires.  It’s a spooky day I must say with Hungry and Austria selling bonds. Biden decided today was a good day to pledge the US unvarnished commitment to Israel.  What does that even stand for?  Who writes these marketing slogans for the government?  NOC is out on the wires.  I say buy NOC as the need for high-tech weapons is rapidly increasing and Northrop has positioned itself as the leader in its sector.

Okay, the theme for today is xenophobia and nationalism.  Some U.S. special interest group is actually have a press conference launching about the “social costs” of pornography.  Online pornography alone is a $3 billion or more annual sector.  No matter the general moral opinion held by US citizens, this is running square into first amendment rights.

Futures are down in the US weighed by concerns about Asia and the EU debacle.  These Credit Default Swaps basically guaranteeing coverage of investment losses hedging offshore entities investments in underlying debt of EU governments and corporations are partly to blame for pressure on the weaker EU economies.  This is another round of exotic derivative garbage that will later be considered the impetus for some investment bubble creating the necessity for governments to bail out lemming banks that are consistently late to the party.

So hold on for an interesting ride today as futures are pointing to the US markets opening down.  There is pressure on Oil and Gold today as the Dollar rallied against the Euro and Pound Sterling.  Clearly this is one of the few times the dollar actually has nowhere else to go but up.  Well I still say that there are really not too many other places to put your money other than the US stock market.  I guess I might venture that South American Index funds may hold steady today.  I don’t buy China’s hint that it might unpeg the Yuan from the Dollar.  The bears are going to try to pound the open as it will be a fight to hold DOW 10,500 today.

Penny Stocks and Penny Stock Picks

Day trading may be defined as the practice of buying and selling stocks within a single trading day and closing all transactions within that day itself before the markets close. The stock market sees two types of trading, one that is – day trading stocks and the other is long term investment in stocks. While day trading stocks involve day to day buying and selling of stocks that are considered volatile and movable throughout the day, long term investments see traders buying stocks and holding them for some time before they are resold again in the market. Day trading is considered more risky and needs a lot of capital back up along with a thorough knowledge of the stock market trends.

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