Stock Market commentary for March 1 – 5
Trading has ended for the month of February and it has been a volatile month. As well, we’ve seen choppy trading especially last week in the markets where market has a non-directional bias. Hopefully, this month will be different as we expect March to be a much better month than Feb. Here are this week’s upcoming major catalysts that could drive the markets higher:
- Greece financial crisis situation: Traders are hoping to hear the news that the EU will help bailout Greece and their financial situation stabilize. If we see this then we could see a major boost to the markets worldwide.
- US Employment situation: The US job numbers are set to be released this Friday and based on the last two weekly jobless claims, this number may show that the US employment situation is not improving. If the US economy is on its way to recovery then the US unemployment rate must drop.
Based on our analysis of the stock charts, we should expect to see a rise in the stock market and the sectors that we like are the technology and financial sector. We like Research in Motion (RIMM) for a breakout price above $72 and Amazon.com (AMZN) for a breakout price above $121. As well, we like the Financial Sector 3X ETF (FAS) for a breakout above $76 and Goldman Sachs (GS) above $160.
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Have a great trading week!
Mike Ser
Hey fellow traders. Hope all of you are enjoying my weekly commentary and stock picks. Our trades for AMZN and FAS all got triggered and are now in the money. Make sure you set your stop loss to break even and try to ride the profit to the max. If the markets continue higher, GS and RIMM could be triggered next. Good luck!
All my trades worked out except RIMM and it looks like my entry price isnt going to be triggered so I am gonna take that trade off. GS broke out today and gonna keep holding that position. I’m gonna keep holding AMZN and FAS but looking to take profits on X now.
Mike
For all of your positions in GS, AMZN, FAS and X, please keep a tight stop to lock in your profits. Hope to keep providing you with excellent opportunities when I see them.
Mike