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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

7/28/09

U.S. stocks opened lower on Tuesday, weighed down by energy and materials shares, with the market digesting data on home prices. The Dow Jones Industrial Average fell 22 points to 9,084. The S&P 500 index fell 3 points to 979, while the Nasdaq Composite lost a point to 1,966. The retailers are mixed this morning. Coach and Office Depot are lower on disappointing earnings. Under Armour and Buffalo Wild Wing are up 4% on earnings while Callaway is up 4% on an upgrade. Gap and Radio Shack were also upgraded. The commodity space is lower. Valero, BP, CF Industries, and U.S. Steel are lower following earnings. The financials are mixed this morning. The big banks are modestly higher. GE is higher following a conference call regarding the modest improvement of business at GE Capital. Deutsche Bank is lower by 7% on a downgrade. Metlife is lower by 3% on a downgrade. The earnings this morning are coming in from Supervalu, Coventry Health, and Textron. All three are higher by at least 6%. After the first hour, the averages recovered, then sold back off. Through the morning the averages remained in the red. The healthcare stocks are bucking the trend. Yesterday Aetna was down pretty good on disappointing earnings, but today the stock is bouncing right back. Unitedhealth Group is up 5% and Coventry is up 10% following earnings. In the afternoon, the Nasdaq snuck into the green while the Dow crept back toward the unchanged level. The financials, or at least, the big banks remain in the green. In the last hour, the averages once again tried to get into the green, but only the Nasdaq succeeded. The Dow Jones Industrial Average finished down 11 points at 9,096. The S&P 500 index lost 2 points to 979, while the Nasdaq Composite rose 7 points to 1,975. 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.