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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

5/7/12

U.S. stocks started with losses Monday following weakness in Asia overnight and elections in France and Greece that added more uncertainty to euro-zone efforts to grapple with sovereign debt. The Dow Jones Industrial Average fell 48 points to 12,990. The S&P 500 Index lost 2 points to 1,366. The Nasdaq Composite fell 5 points to 2,951. The news is quiet this morning with limited earnings and analyst comments. On the earnings front, Louisiana Pacific is trading up 6% while Tyson Foods is up 3%. Berkshire Hathaway is also higher following earnings while Sysco Foods, PetsMed Express, and Trex are lower on earnings. After the open the averages put in a quick rebound led by the financials and techs. That's a good sign. Apple and Google look good while Micron and Nvidia are higher on upgrades. Intel raised their dividend 7% yet the stock is modestly lower. Facebook received its second upgrade in as many days even though the stock won't come public for another week and a half. After the first hour the averages drifted lower once again back toward the lows. Within the Dow, Disney is leading the charge following a blockbuster opening for their movie, the Avengers. Through the morning into the afternoon the Dow rebounded along with the Nasdaq. Apple and Google still look good while the financials are also performing well. The transportation stocks are also performing well thanks to a drop in the price of oil. In the last hour the rally in the Dow fizzled while the Nasdaq held on to modest gains. The Dow Jones Industrial Average finished down 29 points at 13,008. Caterpillar and IBM contributed the most to the Dow's slide. The S&P 500 ended up 50 cents at 1,369. Financials and telecoms were up the most. The Nasdaq Composite rose a point to 2,957. Apple and Google, the index's most heavily weighted, each ended higher. 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.