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
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Disclosure Long BAC DRYS GE No Position NAT