Jan

4

A Big First Day

January 4, 2010 | Leave a Comment
By: John Nyaradi

The stock markets blasted out of the gate at the open and never looked back.

Almost all major indexes gapped open higher on decent volume and closed near their highs for the day.

The Institute for Supply Management report was better than expected, showing a rise in manufacturing activity and the November Construction Spending report was just slightly below estimates while Fed officials kept talking low interest rates over the weekend.

More big reports ahead with Factory Orders, Pending Home Sales and Factory Orders for tomorrow.

Our new positions today made some nice gains along with the ones we brought in from the “old year.”

January is typically one of the year’s best months for stocks, so we’ll see how this goes.

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