The Kirk Report |
Posted: 27 Mar 2009 01:52 PM PDT At least for this week, the market was in like a lion on Monday and out like a lamb today. Still, we closed above key supports and strong weekly returns. For the week, the S&P 500 gained +6.17%, Dow +6.84%, Nasdaq +6.03, and the Russell 2000 +7.22%. To make big money this week you had to be long home construction (ITB), clean energy (PBW), industrials (UXI), financials (UYG), and basic materials (UYM). However, if it was your goal to lose money, being leveraged short was the clear choice as big losses were seen in financials (SKF), real estate (SRS), & telecom (TLL). Next week the market will face a worthwhile challenge in the form of both economic news (including next Friday's jobs report) and potential for earnings warnings as we close out the first quarter of 2009. Have a great weekend! |
Posted: 27 Mar 2009 05:51 AM PDT Good morning. Following weakness in overseas markets, premarket futures are also pointing lower this morning. Top headlines include the latest read on personal income and outlays, news that the White House says it will soon unveil the next part of its plan to help the auto industry, fresh money flow data from TrimTabs & UBS, disappointing earnings from Accenture, and a UN panel urges reserve currency reform. Premarket gainers: SNX, PDLI, WTSLA, FREE, SMOD, GM, SNBC, LYG, HAYZ, LJPC, CPX, ITU, SSD, TLB, JTX, TTM, BCS, KBH, TIBX, AINV, & LULU. Premarket losers: OSIR, DYAX, CSIQ, FCEL, JASO, SOLF, SONS, TGB, MGM, ACN, UBS, AEG, TGB, DHT, BHP, ACGY, ERIC, AAUK, CIEN, LVS, PWE, ABK, FRE, STX, C, PUK, VOD, & TOT. Obama meets with bank execs today which will be the top focus and we'll have another report on consumer sentiment at 9:55AM. With just three trading days left of the first quarter, for many this quarter can't end quick enough although in just a few weeks we'll have the start of another earnings season and another ugly jobs report. For now, however, focus will remain on keeping the upside momentum and closing the quarter on a strong note. Have a great Friday! |
You are subscribed to email updates from The Kirk Report To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Inbox too full? Subscribe to the feed version of The Kirk Report in a feed reader. | |
If you prefer to unsubscribe via postal mail, write to: The Kirk Report, c/o Google, 20 W Kinzie, Chicago IL USA 60610 |
0 comments:
Post a Comment