Thursday March 4 Premarket Analysis
Today in the Stock Market
Dear Fellow Traders
Positive employment news ahead of Friday’s official jobs report helped boost investor optimism. According to a report released Wednesday morning the U.S. service sector advanced at its fastest pace since October 2007. The service sector is about 90% of nonfarm payrolls and this data bodes well for Friday’s numbers. However, concerns over the U.S. healthcare system caused a late afternoon selloff. The Dow Jones Industrial Average opened at 10,406 and managed to rally to a high of 10 469 but it soon ran into some strong resistance. By the late afternoon the Dow fell to a low of 10,376 and managed to close slightly higher at 10,396. I now see two resistance points for the stock the first level at 10,400 and the second at 10,450.
The recent rally in the NASDAQ Composite is starting to slow down and we are seeing some modest consolidation. QQQQ, the ETF of the NASDAQ Composite was able to reach new highs during the session but was unable to hold them until the close. The ETF started the day strong, opening at $45.67 and hit a high of $45.82. However, buyers started to leave the market and by noon the index was trading in negative territory and hit a low of $45.43. Some late buying helped to push the ETF to close at $45.60.
Every day Greece comes closer to resolving its debt problems. On Wednesday the country announced it was able to cut its deficit spending by €4.5 billion ($6.14 billion). This news has helped the euro put pressure on the U.S. dollar and help prop up commodity markets, especially gold. GLD, the biggest gold ETF, added to its strong gains on Tuesday, opening at $111.46 and breaking above $112. The ETF is finding some interesting support around $111.00, which was previous a strong resistance point. On Wednesday the ETF dropped to a low of $111.18 before investor jump in to drive the price to a high of 112.18. Looking at the chart we can see GLD has been on an impressive rally so the high of $112 was a good point for investors to take some profits. The selling pressure caused the ETF to close at 111.63.
The first stock I wanted to mention today is CBBV. We have seen some investor indecision regarding this stock lately but we think that is going to come to an end. Wednesday after the close the company announced the Russian government gave them approval to build 14 plants to process waste gas from oil production. This could generate $350 million in revenues for CBBV. This news should have a major impact on the stock price and we should see a very strong open. The stock closed at $0.16 before the news on a low volume day. If we get good volume at the open this stock should trade up today.
It was another interesting day for BHWX as we expect this stock to break out of its recent consolidation phase. The stock opened at $0.63, which represents its 20-day moving average, and hit a high of $0.66 before falling back down to close at $0.64.
With gold prices continuing to move higher we are expecting activity to pick up in our January gold pick, AGCZ. GLD, the most popular gold ETF has rallied more than 5% in the last five sessions this is going to have a strong impact on small cap mining companies. We can see that buyers are slowly starting to enter the market but are very picky about their prices. AGCZ started the day at $0.14 managed to hit a high of $0.142 before the selling pressure took over. Bears were able to drive the stock to a low of $0.10, which has been a strong support level. Investors took advantage of these cheap prices and drive the stock to close at $0.125.
The recent pullback in SATM appears to be over as investors take advantage of extremely discounted prices. On Wednesday the stock opened at $0.285 and quickly fell to a low of $0.21. But investor quickly jumped into the marketplace and pushed the stock higher. SATM managed to close at $0.275.
It should be an exciting day for LUXE. The stock has formed a reversal pattern from its recent down trend. We alerted our members to this Wednesday afternoon and recommended the entry point of $0.037. The fact that LUXE has broken its down trend with strong volume is a sign that we could see a push higher in the next few days. The stock started the day at $0.041 and it quickly fell to a low of $0.03. However, investors looking for a bargain picked up the stock and drove LUXE to close at its high of $0.042.
Finally, I wanted to update our members on KNDR. The stock has tightened its trading range and continues to bounce between support at $0.05 and resistance at $0.06. I do like the fact that volume remains fairly decent on this stock.
Have a Great Trading Day!
Francis
******************
Verify all claims and do your own due diligence.
HyperGrowthStock.com profiles are not a solicitation or
recommendation to buy, sell or hold securities.
HyperGrowthStock.com is not offering securities for sale.
An offer to buy or sell can be made only with accompanying
disclosure documents and only in the states and provinces
for which they are approved. All statements and expressions
are the sole opinion of the editor and are subject to change
without notice. HyperGrowthStock.com is not liable for any
investment decisions by its readers or subscribers. It is
strongly recommended that any purchase or sale decision be
discussed with a financial adviser, or a broker-dealer, or a
member of any financial regulatory bodies.
The information contained herein has been provided as an
information service only. The accuracy or completeness of
the information is not warranted and is only as reliable as
the sources from which it was obtained. It should be
understood there is no guarantee that past performance will
be indicative of future results. Investors are cautioned
that they may lose all or a portion of their investment in
this or any other company.
HyperGrowthStock.com is owned and operated by
HyperGrowthStock.com. Neither HyperGrowthStock.com nor any
of its affiliates, or employees shall be liable to you or
anyone else for any loss or damages from use of this e-mail,
caused in whole or part by its negligence or contingencies
beyond its control in procuring, compiling, interpreting,
reporting, or delivering this Web Site or e-mail and any
contents.
Since HyperGrowthStock.com and its employees or members of
their families may hold stock in the profiled companies,
there is an inherent conflict of interest in
HyperGrowthStock.com statements and opinions and such
statements and opinions cannot be considered independent.
HyperGrowthStock.com and its management may benefit from any
increase in the share prices of the profiled companies.
Any statements that express or involve discussions with respect
to predictions, expectations, beliefs, plans, projections,
objectives, goals, assumptions or future events or
performance are not statements of historical facts and may
be “forward looking statements”.
Forward looking statements are based on expectations,
estimates and projections at the time the statements are
made that involve a number of risks and uncertainties which
could cause actual results or events to differ materially
from those presently anticipated. HyperGrowthStock.com may
be selling shares of stock at the same time the profile is
being disseminated to potential investors; this should be
viewed as a definite conflict of interest and as such, the
reader should take this into consideration. For more
disclaimers on past compensation please go to
www.hypergrowthstockcom/disclaimer
Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!
