Home
Mike Swanson's picture

Down Stock Market Opening Looms on Monday - Mike Swanson (07/06/09)

Submitted by Mike Swanson on Mon, 2009-07-06 07:02.

Before the bell today US stock futures are down with S&P 500 futures in the red 8.8 points. On Friday the markets sold off hard, with the DOW falling 223 points and the S&P 500 closing right above its 890 support level.

890 is a key level to watch and the market needs to hold above it today or else it will be in a downtrend and you can expect lower prices to follow over the coming weeks. We have had a tremendous rally since March, but nothing goes straight up forever.

Today oil futures are taking a hit, down almost 5% as people seem to be betting that the recovery isn't as great as people think. Last week's unemployment data shows that the US is still in recession.

Bank of America paid out $713 million in dividends to the US government today. Pepsi is investing $1 billion in Russia over the next three years to take advantage of the growth in emerging markets and BRIC nations.

Rio Tinto is selling its US food packaging business. To get our free stock trading newsletter just go to our WallStreetWindow.com home page.

»


Sign Up Below to My Free Weekly Newsletter

Hello. My name is Mike Swanson. I’m the best-selling author of the book Strategic Stock Trading. In a former life I used to run a hedge fund from 2003 to 2006 that generated a return of over 78% during that time frame. In fact it was ranked in the top 35 out of 5,000 hedge funds in 2005.

After I retired from the hedge fund world I setup this website and blog. If you sign up for my free weekly email list below I’ll send you an update on average about once a week on my views of the current stock market trends and share with you actionable investment ideas.

Now I cannot promise you that every stock I find will go up in value. I can’t promise you endless 100% returns as others claim they do and as all the disclaimers say past performance does not necessarily predict future performance and you can lose all of your money in the stock market.

This is reality.

What I can promise you is my dedication to doing the best I can for you.

You see the key to making money over the long-run in the stock market is to manage your risk. Once you sign up to my newsletter I’ll send you a series of educational videos and writings showing you how I use stop-loss orders to cut any potential losses and how I use my two fold formula system that combines fundamental and technical analysis to pick stocks. My goal is to risk one dollar to try to make at least three dollars in my trades by looking for stocks that are priced cheaply on a valuation basis, have high earnings growth, and have excellent chart patterns.

So join my list below and let me help guide you on your journey in the stock market.