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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Day Traders Diary

11/2/11

U.S. stocks began Wednesday with robust gains after data had U.S. companies adding more jobs than expected in October and ahead of a statement on the economy from the Federal Reserve. The Dow Jones Industrial Average added 160 points to 11,818. The blue-chip index lost 573 points, or nearly 4.7%, in the first two sessions of the week. The S&P 500 Index rose 18 points to 1,236. The Nasdaq Composite added 30 points to 2,636. A nice rebound after a two day crash. The earnings keep flooding in. Trimble Navigation, XL Capital, CF Industries, Franklin Electric, Devon Energy, Clorox, Hyatt Hotel, MasterCard, Comcast, AOL, Garmin, Huntsman, and SunCoke are all higher following earnings. MasterCard is jumping 7% to new highs following strong earnings. The financials in general are acting quite well as the news out of Europe and Greece has subsided a little bit. The commodities are rebounding smartly. CF Industries is leading the fertilizers higher following strong earnings. The techs are rebounding expected for the old guard. Intel and Microsoft are unchanged. Research in Motion is the dog in the tech space dropping 3% to a new 52 week low and a five year low. That poor stock can't get out of its' own way. After the first hour the averages remained strong. Through the morning the Dow pushed higher rising 200 points while the Nasdaq rose 35 points. A few stocks are trading lower this morning. Peet's Coffee, Atmel, Annaly, Diamond Foods, Molson Coors, Becton Dickinson, and Sony are lower following earnings. During the lunch hour the averages left rates unchanged causing little change in the averages. Following the lunch hour the averages pulled back on erroneous comments out of Greece. Here we go again. The Nasdaq gave up all its' gains only to rebound in the last hour. The Dow Jones Industrial Average rose 178 points, or 1.5%, to 11,836. It had fallen 4.7% over the prior two sessions. The S&P 500 gained 19 points, or 1.6%, to 1,237. The Nasdaq Composite rose 33 points, or 1.3%, to 2,639. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.