Wednesday was expected by many to be a negative day on bad earnings. Especially after so many claimed that Alcoa was going to tank Wednesday. I for one said that the stock price would not fall as most sane people have already priced bad earnings into the price of large cap stocks.

Here is the summary for Wednesday:

Wednesday I did not post any trades. Now one stock that did move was (CHCI) which was up almost 100% at a point. It was mainly on side movement on the base that the other home builder stocks were merging and a ultra cheap stock like (CHCI) could get bought out after being pushed to so cheap. I have had this stock from before and if I was able today, could have averaged down and then pulled out a profit.

For Thursday, earnings and indicators will really point to a direction in the market. Housing and unemployment will be numbers to watch and many of the bigger companies are posting earnings before and after the bell. Since the markets are closed on Friday and Monday watch for profit taking but at the same time perhaps a push if earnings are better than expected – trading volume will be light.

Earnings Watch:
(AMRB) 0.29 (ASBC) 0.26 (BAX) 0.81
(BGG) 0.64 (CRRC) 0.16 (CY) -0.23
(ESLR) -0.09 (FCS) -0.34 (GPC) 0.49
(GOOG) 4.98 (HOG) 0.52 (ICUI) 0.33
(ITW) 0.16 (IIIN) -0.04 (ISRG) 1.07
(JPM) 0.33 (KNL) 0.2 (MSW) 0.01
(NOK) 0.15 (PH) 0.54 (PII) 0.2
(PPG) 0.14 (SHW) 0.21 (SFNC) 0.34
(SON) 0.3 (LUV) 0.04 (TITN) 0.21
(UTEK) 0.04 (USAK) -0.06 (VASC) 0.06
(VRTX) -0.82


Economic Indicators:
8:30AM Initial Unemployment Claims
8:30AM Housing Starts for March.
10:00AM Philly Fed Index for April.

New to Watch:
Gold rose for a second straight day in New York as some investors purchased the metal to hedge against financial turmoil. Silver also gained. Link.

Many U.S. banks would rather return taxpayer money than face a growing litany of restrictions that come with it, but they may find regulators are in no rush to take it back. Link.

U.S. securities regulators met to consider restrictions on short selling, an investing strategy that some lawmakers and corporate executives say exacerbated the financial crisis and drove down stock prices.Link.

Happy Investing!

Aman, MBA

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