-Executive Summary-

• The markets closed mixed.  The DOW (DJ-30) closed down, while the NASDAQ closed positive.  The broader market (SP-500) closed basically flat.  This is pretty good performance for the markets considering the amount of turmoil taking place in the Arab world.
• Oil failed to hold above the $100/barrel line and closed below $97/barrel.
• New home sales data for America were released today.  See below.
  
  Please see our short (2 minute) website videos for more information. This Stock Market Companion 15MinuteStocks Market Update is a powerful tool designed to help you make money in the stock market.  It’s web-based, therefore available wherever and whenever you are.  It is your essential link to the markets, delivers a broad to narrow summary of important market and company specific conditions and events, and prepares you to be ready for actionable ideas.  We show you when/where we put our own money to work… and when/where we take our profits/losses.

– Markets “At a Glance” –

(Please scroll down to the end of the report to see your favorite benchmarks – Dollar, Oil, Gold … closing prices and daily direction.)

– Market Trends –

*Summary of terms from Trader Vic II-Principles of Professional Speculation (pg. 140-141)
*_________* Represents a change in trend rating.

– Market Perspectives –

For your added perspective, we’ve included this chart of the broader market (Successful stock investors develop and start with a minds-eye view of the broader market and keep it clear) –

1. SMC SP-500 ETF Daily Chart (Click to open helpful chart in a separate browser window).

– Today’s Highlights –

The markets are gripped with uncertainty – but NOT with an overabundance of fear.  Under conditions of uncertainty, institutional investors prefer to wait another day or another week or some other undetermined amount of time before engaging the markets.  They may take profits and move things around.

Fear on the other hand, leads people straight to the exits.

Today’s mixed close – Nasdaq UP and the DOW (DJ-30) DOWN – indicates more uncertainty than fear.  The DOW also managed to rally strongly off its lows in the mid-afternoon, after first clearing out some weak hands by breaking DOWN through the 12,000 point line with gusto and then popping back above it.

Oil prices were high going into the equities open today, with the barrel price of West Texas Intermediate (WTI) resting at around $101/barrel, but spent a fair portion of the day selling-off and closed at approx. $96.50/barrel.  At $96/barrel, that’s still an approx. $11/barrel spike in crude in a little over a week.  We mentioned yesterday a rule of thumb measure that indicates that each $10 spike in oil price takes a half percentage point off our U.S. gross domestic product.

There is a lot of noise out there right now.  There were even headlines in the afternoon indicating that Mr. Gaddafi had been shot.

Other news of note –

1. New home sales in January were a disappointment, falling -12.6% month to month.  This data emphasizes the focus currently of home buyers on distressed and foreclosed property reported yesterday.  Yesterday – data showed yet another increase in existing home sales, with 37% of those sales being distressed property.

2. General Motors Corp. (GM) stock fell to a post-IPO low of $32.05/share before bouncing to close back above its key $33/share line.

3. It’s Thursday, so last week’s initial jobless claims data was released – revealing a more favorable 391,000 new claims number.  The trend in jobless claims is modestly DOWN.

– Story-Stock Investing –

Please remember – at the Stock Market Companion we do not and cannot give individual investment advice. According to the State of Washington RCW 21.20.005 the Stock Market Companion is not a Registered Financial Advisor and we do not render any advice on the basis of the specific investment situation of a particular individual. This information is for a wide readership and is not intended for any particular individual,  and under no circumstances should our SMC Intraday Update, SMC 15MinuteStocks Market Update or Watchlist be considered an investment recommendation or plan for any specific individual.  By accessing this material, you agree that the Stock Market Companion will not be held liable for any actions taken by a subscriber or other parties.  Please seek the counsel of a broker or other licensed investment professional for accurate pricing and concerning the suitability of all investments that you may be considering. Disclosure : Please understand that the Stock Market Companion may hold positions in the above mentioned securities.  Based on market related or personal events these positions may change without notice.

– Stock Market Companion – Current Holdings –

– Stock Market Companion – Performance –

Please click on this chart to see the Stock Market Companion 15MinuteStocks stock performance versus the SP-500.  It will open in a separate browser window.
* Gains (losses) do not include brokerage fees.   Our returns are very strong … BUT …  WE have to remind everyone just like all other financial sites in America – Past Performance is No Guarantee of Future Returns.  Unlike others however, our objective is to teach you to be able to make these types of strong returns On Your Own.

All of the investments – stocks, entries, and exits are listed on our Stock Market Companion Watchlist at the bottom of the spreadsheet, in the section labelled Former Holdings.

– Benchmarks “At a Glance” –

Data Source : Financial Visualizations Inc.

Signing-Off for Today,

Your -Stock Market Companion

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