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Market Review November 13, 2009     
 
Commerce Department reported that the U.S. trade deficit widened by 18.2% in September to $36.5 billion, the highest level since January, analysts\' expected a reading of $32.8 billion. Abercrombie & Fitch reported net income fell to $38.8 million, or $0.44 per share, in the third quarter from $63.9 million, or $0.72 per share, a year earlier. Net sales fell 15% to $765.4 million as same-store sales, or sales at stores open at least a year, fell 22%. J.C. Penney Co. reported a 78% drop in its third-quarter earnings due to a large expense for its pension plan. J.C. Penny said Friday it earned $27 million, or $0.11 per share, the department store earned $124 million, or $0.56 per share, in the year-ago period. Stocks continued their climb throughout the afternoon, the Dow Jones Industrial Average rose 74 points, the Nasdaq Composite Index rose 18 points and the Standard & Poor’s 500 Index rose 6 points. Bond prices rose, the yield on the benchmark 10- year Treasury note fell to 3.42 from 3.44 Thursday, the dollar also fell against other currencies. Crude oil fell $0.59 to $76.35, gold however was on the rise, it rose $10.20 to $1,116.80.

Free Daily Stock Picks activity and results for November 13, 2009:

TSTC - position entry at 12.83PM, 2nd Target Level hit for a gain of 0.51 points
URS - position entry at 41.20PM, 3rd Target Level hit for a gain of 1.65 points
JWN - position entry at 32.86PM, Stop hit for a loss of 1.00 point
ESE - position entry at 31.59PM, 1st Target Level hit for a gain of 0.47 points
TCLP - position entry at 37.89, EOD price hit for a gain of 0.12 points

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