Monday was an phenomenal day on the markets. With rallies that lead to 7% gains on the markets, it seems to be safe to say that the Bulls are on the loose and prepared to charge. Today could be just the beginning of better market numbers to come now that the toxic buy back is officially unveiled AND was not half-ass attempts like the government tried last time.

Here is the wrap up for Monday. The numbers are outstanding for today!

Currently the Asian markets are up sharply again.

New to look at for Tuesday:
The number of existing homes sold in February unexpectedly rose last month, an industry trade organization said Monday, as distressed home sales continued to remain the dominant force in the nation’s impaired housing market. This is great news and another reason for a catalyst in the markets. Link.

Shares of Red Hat spiked in trading Monday, fueled by reports that the software giant Oracle might make a bid for the Raleigh company.Link. Another sign of the possible rally is the increase in M&A activity (mergers and acquisitions) which many did not expect this quarter.

U.S. Markets Wrap: S&P 500 Caps Biggest 10-Day Gain Since 1938 – Link.

For Tuesday, bank stocks are a great sector to watch. Also, a couple of Canadian stocks are really going to be worth watching for a possible entry. It was announced on Monday that Suncor would purchase Petro Canada which is a large oil/gas company. With the pops on Monday, profit taking could take place on these two stocks Tuesday along with many others in virtually any sector and this can enable an entry for a long position.

Personally, I will be looking to get into Suncor as a long position. Since I did not trade on Monday due to the gap up and no real pull back, I will watch for an opportunity to get in on a pullback.

Happy Investing!

Aman, MBA

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