Monday, November 10, 2008

The Kirk Report

The Kirk Report

Secrets Of Successful Traders

Posted: 10 Nov 2008 11:09 AM CST

Secrets
Over the weekend I was sorting through some of the voluminous junk mail I recently received and I actually found one gem worth sharing (which is why I don't just dump the junk mail in the garbage without taking a quick look first.)

In a promo brochure put out by MetaStock called "Secrets of Successful Traders" they included Robert Deel's 16 Rules Of Investology. I found them of interest and thought you would as well, so here they are.....[READ]

Worldwide Stimulus & More Bad News

Posted: 10 Nov 2008 08:30 AM CST

Good morning. We're set to start the week off on a positive note. Premarket futures indicate we're likely to see a +1% gap at the opening bell.

Rallies in overseas markets following news of a large stimulus package in China, more interest rate cuts by banks around the world, and news that the three-month dollar Libor has fallen to its lowest level since 2004 have set a positive tone.

In other news, Uncle Sam has thrown a new lifeline to AIG, Circuit City has filed for Chapter 11 bankruptcy, an analyst has suggested GM's stock is "worthless," and over the weekend regulators have seized two more U.S. banks.

Premarket gainers: CYCL, GERN, AIG, STEM, PBCT, ACL, MT, TLM, JASO, DRYS, ESLR, APWR, FDRY, TC, OSIR, TBSI, CSIQ, AAUK, RTP, BHP, YZC, FCX, VISN, C, SPWRA, TSN, FSLR, GU, MOS, LVS, STLD, BUCY, POT, JOYG, & FWLT.

Premarket losers: FBTX, CC, ACAS, DISH, HRZ, GM, DSCO, MBI, FTEK, UAUA, ALD, DFP, STD, AZ, ED, LCC, & DAL.

For today (and tomorrow), there's nothing on the economic calendar and in this environment that is a positive. Instead, look for individual companies to drive the action along with the latest news on new bailouts (like for the automakers) and additional government stimulus both here and worldwide. Of course, last Tuesday's closing high in the S&P at 1005 and Thursday's closing low at 904 has set up a nice trading range to work with as we start the new week. Let's make it a good one!

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