Our members who followed the recommendations from SOME this past week would have enjoyed a 275% gain.
Here are the gains on some of the stock options recommended by SOME during the last week:-
Sprint Nextel Corp. (S) ……..40%
Suntech Power Holdings Co.Ltd. (STP) ……..55%
Fuel Systems Solutions Inc. (FSYS)…….28%
Auto Zone (AZO) ……..48%
Overview of the Past Week
Tuesday and Wednesday saw a slump in the bull run with the Dow Jones Industrial Average (DJIA) closing flat on Tuesday and Wednesday fractionally lower.
The Friday employment data report seemed to be the cause of hesitation for the three days prior to Friday, even though the ADP reported better-than-expected data on job losses in the private sector on Wednesday. President Obama didn’t help market confidence with his statement that he wanted to wrap up health care reform legislation within "the next few weeks."
Thursday ended the day in the black, with a small gain of 0.46% due to a steeper-than-forecast decline in weekly initial jobless claims which built up hopes for a better jobs report on Friday.
Friday saw better-than-expected jobless numbers, and along with a report that consumer borrowing unexpectedly climbed in January, sent the market upwards to finish the week with good gains.
By the close of the week, the Dow Jones Industrial Average (DJIA) was up 2.3%, the S&P 500 Index (SPX) was also up for the week, with a bigger gain of 3.1%, whilst the Nasdaq Composite (COMP) soared to a gain of 3.9%.
The end result, for the week, is as follows:-
• The Dow Jones Industrial Average (DJIA – 10,566.20).
• The S&P 500 Index (SPX – 1,138.70).
• The Nasdaq Composite (COMP – 2,326.35).
Some notable news for the week was that Ford Motor (F) outsold General Motors (GM) in February for the first time since February 1998.
Next Week’s Reports
Tuesday – Again, there are no economic reports today.
Wednesday - January's wholesale inventories and the February Treasury budget as well as the weekly report on U.S. petroleum supplies.
Thursday – Weekly initial jobless claims and the January trade balance.
Friday - February's retail sales, the March University of Michigan consumer sentiment index, and the January business inventories report.
Companies to Keep an Eye On
Amarok Resources (AMOK)
iShares Silver Trust ETF (SLV)
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