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Shayne Heffernan is an Economist, Trader, Fund Manager and Venture Capitalist based in Asia. He also serves as Editor and contributor at www.livetradingnews.com, Founder of The Heffernan Group and currently building the company's financial services business in China. Major shareholder and CEO... More
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  • Red Roadmasters Stock Talk featuring BAC, DRYS, GE, NAT 0 comments
    Nov 19, 2009 1:14 PM | about stocks: BAC, DRYS, GE, NAT

    Red’s Bull Alert: US stocks retreated, paused and then charged North again Wednesday headed back to the Green but closed the session a bit short of another gainer.

    Gold futures hit a new record high above US$1,150 oz Wednesday

    The S&P 500 has ended in the Red only 3 times in the last two weeks

    Re-cap of the US Stock Market Action for the session ending 18 November 2009

    US stocks broke 3 days of gainers Wednesday

    US stocks pared session’s losses just before the Bell as many investors pointed to a strong up-trend in equities that have pushed major indexes to 13 month highs over the past 11 days.

    The DJIA shed 11.11 pts, or 0.11%, to close at 10,426.31, the S&P 500 lost 0.52 of a pt, or 0.05% to close at 1,109.80, and the NAS tallied up a minus 10.64 pts, or 0.48%, to end session at 2,193.14.

    The leading S&P financial index added 0.9% after hedge fund billionaire John Paulson said Bank of America Corp stock could double in 2 years. Bank of America’s shares rose 3.7% to US$16.35.

    Gold futures hit a new record high above US$1,150 oz Wednesday and Silver finished plus a bit, but Platinum minus a bit. Crude Oil rose 0.7% on the day, and the USD fell 0.4% against a basket of currencies.

    Volume and Breadth: Trade was light, with about 1.06B/shrs changing hands on the NYSE, below last year’s estimated daily average of 1.49B/shrs, and on the NAS, about 2B/shrs traded, below last year’s daily average of 2.28B/shrs. On the NYSE, decliners outnumbered advancers by about 8 to 7, and on the NAS 8 stocks fell for every 5 that rose.

    Stocks to Watch Today

    Bank of America (NYSE:BAC), DryShips, Inc. (NASDAQ:DRYS), General Electric (NYSE:GE), and Nordic American Tanker Shipping, Ltd. (NYSE:NAT).

    Click below to read the full report:

    Disclosure Long BAC DRYS GE No Position NAT

    UA:F [1.6.2_892]
    Stocks: BAC, DRYS, GE, NAT
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