THURS. SEP. 11- A Sad Anniversary

Today is the 7th anniversary of one of the most tragic days in the history of the United States. Seven years ago today, a group of madmen brought down the World Trade Center and tried destroying the Pentagon and potentially more if not for some heroes in Western Pennsylvania. While (sadly) time lessens the event, it still affects many Wall Streeters- many of whom do not go to work on this day because they just can’t. Thus, trying to keep this business-related, it is a day that is traditionally a little slower than otherwise would be with stock movement a little different in tone than it usually is. Generally, the volatility isn’t as great and the individualized moves tend to be a little stranger than normal. In 2002, the market opened sharply higher on a patriotic rally before closing down and its low. But for the last five years, the 9/11 trading session (or the one immediately afterwards) were all up days for the market based on the Dow Jones Industrial Average. So, in between observing the moments of silence and remembering the awful events of seven years ago, realize that trading today in all likelihood will be a little different and less violent in nature than it usually is. All of this said, we are an extremely different financial environment now than we were in any of the last six anniversaries so we are not saying the market will close higher…but it will likely be a little more quiet today than normal except in the financial sector where thinner conditions may make it even more volatile.

Reiterating-If the whole story is not there -
If something is good, assume either a short thru unchanged or an A-B-A2 based on direction of the market unless specifiedIf something is bad, assume either a buy thru unchanged or an A-B-A2 based on direction of the market unless specified

Good-
COL- pre-announced earnings in-line after closing at its low yesterday

PBR- up amidst some Brazilian political moves; has a head start over other oils...if oil rallies, will be very strong

DRI, CLNE - on Cramer's show last night

Bad-

LEH- closed very weak yesterday; the stock will likely continue to downtrend today and may accelerate- if it does, be on the lookout for new lows and keep an eye on how it is affecting the rest of the market. THE BEST TRADES BY FAR WILL BE PRE-OPEN PROBABLY BEFORE 8AM.

ACTL- warned on earnings

KNXA- warned on earnings

CAVM- very weak; completely broke down yesterday

SVVS- closed on its low

GFIG- weak after posting terrible earnings

MER, MS, GS - broker sector was terribly weak yesterday; they are all subject to rumors at anytime today

AIG- may be the next LEH; watching all day

LULU- bad earnings


Good luck today.

www.protradingnetwork.com