Tuesday, March 17, 2009

The Kirk Report

The Kirk Report

Lucky Charm Portfolio

Posted: 17 Mar 2009 01:59 PM PDT

St. Patrick's Day
It's St. Patrick's Day and time to start a new tradition!

Yesterday I asked members to submit the ticker of a stock they think would bring investors the most luck over the coming year. Amid the 91 tickers I received, only 10 of them were recommended by more than one member.....[READ]

Bottom Calling

Posted: 17 Mar 2009 10:43 AM PDT

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A Rise In Housing Starts

Posted: 17 Mar 2009 06:00 AM PDT

Good morning. Premarket futures have been volatile, but currently point to a higher open. A surprising rise in housing starts helped by a large increase in construction of apartment buildings improved premarket sentiment considerably following weakness in overseas markets.

Other headlines traders are looking at this morning include a decrease in retail sales, the latest PPI, a pair of earnings warnings from Alcoa (AA) & Rio Tinto (RTP), and comments from Meredith Whitney on CNBC.

Premarket gainers: SBLK, CLNE, EXXI, FCS, UBS, HOGS, RDN, FRE, GGP, HOV, AMB, ZUMZ, CTX, KBH, FDS, LEN, LCC, CEPH, FRPT, CLFD, BAC, DB, MKTAY, CRYP, DRYS, RYAAY, SHPGY, & APP.

Premarket losers: ENER, SINA, SPWRA, FSLR, TRH, AINV, QCOR, CTCM, CHU, FMBI, SYNN, DNDN, AA, EGY, MT, & MS.

We have no economic reports scheduled during today's session. However, the Fed's policy-setting Federal Open Market Committee begins its two-day meeting today with a decision on interest rates tomorrow afternoon.

No doubt the bulls will be looking to set up a higher trading range between S&P 740 to yesterday's highs around S&P 772. This will likely remain a formidable area of resistance and much will clearly depend on whether the market is able to manage to break through this area over the near-term.

Go make it a great day!

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