Day Traders Diary
8/4/09U.S. stocks declined at Tuesday's start, snapping a four-day winning streak that had the S&P 500 topping 1,000 for the first time since early November. The Dow Jones Industrial Average fell 20 points to 9,266. Caterpillar is one of the few Dow components higher after reaffirming earnings. The S&P 500 declined 4 points to 997, while the Nasdaq Composite shed 13 points to 1,994. Not many stocks or sectors are trading higher. Rowan, Simon Property, Tenet Healthcare, Progressive Energy, ADM, D.R. Horton, Duke Energy, Toyota, UBS, Cedar Fair, Texas Roadhouse, Vornado Realty, Louisiana Pacific, St. Joe, and Marvel Entertainment are lower following earnings. Martin Marietta is one stock trading higher following earnings. At 10 o'clock, the averages clawed back toward the unchanged level thanks to better than expected housing data. So far it's a quiet day. Through the morning the averages continued to hover near the unchanged level. The financials will not
sell off. Heading into the lunch hour, the averages slowly moved into the green. The financials are acting great. In the afternoon, entering the last hour, the averages moved into the red only to rebound into the close. Resilient. The Dow Jones Industrial Average finished up 33 points to 9,320. The S&P 500 rose 3 points to 1,005, while the Nasdaq Composite gained 2 points to 2,011. 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.