Thursday, April 9, 2009

Breaking News

In this article, we find that our government leaders are considering amnesty and citizenship for millions of illegal aliens. If passed, we can logically expect to find more people competing for a limited number of jobs. When the public has reduced employment opportunity, there will be less spending. Reduced spending cuts corporate earnings. Reduced corporate earnings, reduces the value of companies, and thus, stock Price.

In other news, SPY key resistance levels have broken!

Click for larger image.

This is about three weeks of 60 minute Price action. As you can see, The market has been remarkably flat until today. Finally, the trend has broken and the markets are on the way up for a while.

Does everyone know how to find a list of 'short interest' stocks? They are fun to own! Here is a three day chart of one that I bought this morning/sold this afternoon, GCI.

Have fun!

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