chartThe third quarter of 2009 officially began today and ended in positive territory. Good news from manufacturing sectors in the USA and abroad point to a stronger road to recovery. General Mills (GIS) was a strong gainer today after they expected better than anticipated results. This seems to be a common announcement with companies that were expecting the worst but are doing better.

Another strong gainer was a holding I have had for a little time now. Money Gram, which I talked about months ago, popped today over 30% and is well above $2 mark. I talked about this stock a few times and when it was under $1/share, I honestly was looking to cut my loss. Good thing I waited for the turnaround and now am back into positive profits. Patience is virtue!

Here is the market summary for Wednesday:

Thursday:
Economic Indicator:
8:30AM Initial Unemployment Claims
8:30AM Employment Report for June
9:40AM Leading Inflation Indexes for June
10:00AM: Factory Orders for May
10:30AM Weekly Leading Index

Markets will be closed on Friday so watch for a light volume with many traders taking Thursday off early.

News:
Fannie And Freddie To Expand Mortgage Rescue (FRE) (FNM).

Lear to File Bankruptcy After Lenders Agree to Terms (LEA).

Citigroup Increases Credit Card Interest Rates (C).

Like I mentioned earlier, Friday will be a light volume day it seems. Friday markets will be closed on the US side, and Canadian stocks will trade after being closed on Wednesday for Canada Day. If I trade on Thursday, I will just trade for a small gain for the day rather than holding over the weekend.

Happy Investing!

Aman, MBA

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