Tuesday, January 27, 2009
Tuesday morning scoop futures up strong
Earnings are fast and furious. Most are missing but the health care industry? Johnnie u liked vz verizon they met expectations and are up. US steel is going to open 10% higher symbol X 29. now a yr ago 180.00 unbelievable. The infrastructure play is on with Obama. The economy is still a mystery. Some dooms dayers are scareing me saying the problems have not all been exposed yet. We have corrected 50% dow jones how much more could it correct? Obama and team are really down playing economy to my surprise. I assume its to look good when we recover witch will happen. But when? I still feel the november 20th lows 7300 dow will hold. Dow has given up 8% back in January to my surprise. WE got to hold 8000 k Dow this week or a retest is likely. If your long hold on with a stop out of everyhing at 7300. We get this stimulus package thru and we pop 10 % in short order. Japan and China have steped up intervention to keep the ecomomy together. Germany had great numbers overnite economically. So not everyone is in the toilet. South america the Aussies and some of Europe/Asia is ok. For a trade today I will play GERN the biotech company approved for spinal cord testing with stem cells. CVTX is poping from 10.-15 this morning.
Posted by John Burke makeitajob at 8:29 AM