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What Happen Today in the Stock Market

photo by azrainman

During Wednesday’s trading the markets were very volatile which was something that was expected. Unfortunately the day ended down, the good news (if there is any) is that the DOW fell only 29 points. As I said the other day, I did expect the markets to come back down from their two day rally of Thursday and Friday and with the talk of the bailout, I don’t see it going up anytime soon.
The President spoke on national television Wednesday night stating that something needs to be done for the American people not Wall street. If that’s the case then Hank Paulson and Ben Bernanke need to redirect the way they’re selling this plan.
As with what to trade in the markets this week, it’s pretty hard to find what’s hot and what’s not. Take a look at Goldman Sachs today. News came out on warren Buffett buying $5 billion worth of shares and other assets, but when the markets opened the move was minimal then dropped down. At the end of the day it was up $8 per share only to drop $3 in after market trading. The financial sector was a mixed bag today and the alternative energy sector was up on news of the bill that was passed for tax breaks.
Oil lost a little ground and the dollar held strong throughout the day. We will have to see what the next two days will hold for us, so hold tight and happy trading.

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