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Daily Stock Picks Report Archive

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Daily Stock Picks Newsletter from October 21st, 2008

Surprise, surprise, the market sold off.  So we still can't get any traction more than a day and now we are entering a dangerous time for the market if it continues to sell off.  My best guess is that the stock market goes through a process of bottoming while not breaking the October 10th and October 17th lows in stock prices.

The oil and gas sector had a little follow through this morning while most other sectors drifted lower.

AAPL had earnings after the regular stock market closed and moved up 13 points after falling $6.95 during the regular market.  This could help the market open up a little tomorrow but it is doubtful it will little lasting effect, considering the all stocks have sold off with good news or good earnings

We are in a holding pattern at the moment while watching the current intermediate stock positions and seeing if they hold without dramatically selling off again.  So we are in a monitoring mode for now.

Have a great day and I'll talk to you tomorrow.

Mitch King

www.TradeStocksAmerica.com

contents:  stock trading, trading strategies, stock picks, stock market education, stock market investing course and educational stock trading videos.

Mitch King is the founder of TradeStocksAmerica.com.  All material presented herein is believed to be reliable but we cannot attest to its accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readers are urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports may change without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stocks cited above before or after this newsletter is prepared. Opinions expressed in these reports may change without prior notice.

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