Do You Know The Theme Of The Day?
We are still waiting for the upcoming
Federal Reserve interest rate decision. Needless to say, the market
is quiet. Let’s look at one stock attracting a lot of buyers this morning.
11:06:37
(From TradingMarkets TradersWire)
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Lehman Brothers Holdings (LEH)
is approaching its resistance level near 79. LEH is trading at 78.78, up
2.76. The company reported higher quarterly earnings earlier this morning.
Normally, when a stock is approaching a resistance line, you think about
shorting the stock. But this morning’s good news has changed the tone of LEH
completely. It gapped up at the open, and the short sellers were trapped. If the
stock takes out 79, more sellers are forced to cover.
I’m not asking you to read all financial news, but every morning we post “Market
Movers” in TradersWire. These are the stocks many market participants
are focused on. Just by glancing at those issues, you can grasp the theme of the
day.
Have a nice day!