Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Thursday, the 5th of September.
With all of the major indices in a choppy sideways pattern, it has become a stock picker's market. One stock that I like is Dollar General (NYSE:DG). This stock meets all of the criteria I look for in a stock:
1) It is in a strong uptrend.
2) It has just broken out to new highs.
3) It is coming from a strong base, capable of carrying it 20%+ higher.
Today, I will put Dollar General under a microscope and see if it is worthy of an investment.
Would you buy stock in Dollar General?
Looking at the other markets, gold continues to disappoint the bulls as it remains in the early stages of trying to build a base to move higher. I do not expect to see anything serious get underway until later this year or early in 2014.
Crude oil remains firm based on the uneasiness in Syria and the Middle East. It is anyone's guess what is going to happen on that front. When you have three quarters of the population against any form of intervention in Syria, it places the administration between a rock and a hard place. I don't envy the task at hand for President Obama.
I just want to say a quick thank you to all the folks who commented on some of our recent posts. I encourage everyone to take part and continue to share their thoughts. Our mission here at INO.com and MarketClub is to help you improve your trading and trading results, so please feel free to ask any questions and post your comments on this blog.
Have a great trading day,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
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