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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

03/29/12

U.S. stocks decline once again following weakness overseas and disappointing jobless claims numbers. The Dow Jones Industrial Average fell 59 points to 13,066. The S&P 500 Index declined 7 points to 1,397. The Nasdaq Composite lost 15 points to 3,089. The profit-taking continues into quarter end. The energy, materials, and industrials continue to push lower. French oil company, Total is lower as their gas leak persists. In the commodity space, Mosaic is lower by 3% on earnings. Potash and Agrium were upgraded, but the stocks are lower. The oils are all lower while the coal stocks continue to get hit. The financials are lower for once. US Bancorp and PNC were downgraded more due to valuation. Goldman and JP Morgan had their numbers raised, but the stocks are lower. Wells Fargo and Suntrust were upgraded, but both are lower. Even the techs are under some pressure as Apple and Google are modestly lower. Red hat is bucking the trend up 8% on earnings. IBM is lower even though someone upgraded it with a $235 price target. Intel is modestly higher after having their numbers raised. The retail space has been on fire of late even as oil prices push higher and higher. Best Buy initially traded higher following earnings, but now is down 5%. Whole Foods and Under Armour are lower on downgrades. Dicks, Jos, A Bank, and Stanley Black and Decker are all lower on upgrades. Through the first hour the averages tried to rebound with limited success. Through the morning the averages drifted lower on profit-taking. A few stocks remain in the green including IBM and Coke, and McDonalds in the Dow. Red hat is now trading up 16% to new highs. Nice. In the afternoon the averages put in a nice rebound with the Dow cutting loses in half. Consumer discretionary stocks are perking up, but most sectors remain in the red, but off the lows. Through the afternoon into the close the averages kept improving with the Dow moving into the green. Amazing. The Nasdaq remained in the red as its two leaders, Google and Apple, couldn't get going. The Dow Jones gained 19 points to finish at 13,145, with Alcoa and Caterpillar among the top gainers. The Nasdaq Composite fell 9 points to 3,095 while the S&P 500 index dropped 2 points to 1,403. 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.