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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

11/22/10

U.S. stocks fell early on Monday, as Ireland's application for a bailout failed to remove broader concerns about sovereign debt in the euro zone. The Dow Jones Industrial Average fell 54 points to 11,150. The S&P 500 index fell 4 points to 1,194. The Nasdaq Composite lost 3 points to 2,514. A weak opening, but many of the techs look good. High flying, Netflix keeps shooting higher after announcing new pricing and distribution opportunities. Research in Motion, HP, Apple, and Sandisk are all higher on upgrades. HP reports earnings tonight. Novell is up 6% after agreeing to be bought out for $2.2 billion. The commodity space opened mixed with the fertilizers stocks trading higher. Potash looks good following two upgrades. The retail sector has been on fire of late, but is quiet this morning ahead of its' biggest weekend of the year. Tyson Foods and Valspar are higher following earnings this morning. Cracker Barrel is higher ahead of earnings tomorrow. The averages held up in the first half an hour only to sell off once again with the Dow dropping 80 points. The financials look awful thanks to mortgage put back concerns and a new insider investigation that may implicate bankers in a number of the large cap financials. The Nasdaq is trying to hold up declining only 3 points. The averages remained quiet through the morning, reaccelerating to the downside in the afternoon led by the financials after the FBI raided two hedge fund offices. All the big banks tumbled 2% to 3% on this news. If it's not one thing with these banks, it's another. The Dow fell 130 points by the middle of the afternoon only to slowly improve heading into the last hour. In the last hour the Nasdaq moved into the green with Apple jumping 2%. The Nasdaq slowly moved back toward the unchanged level with the financials remaining the greatest drag. The Dow Jones Industrial Average finished down 24 points at 11,178. Shares of Hewlett-Packard rose 1.8% ahead of earnings after the close. The S&P 500 index fell a point to 1,197. The Nasdaq Composite rose 13 points to 2,532. 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.