Intra-day Strength Can Make You Money
Traders and investors are waiting for the Federal Reserve Bank Chairman Ben Bernanke to speak this morning at 10:00 am EST. This could be one of the most highly anticipated speeches of the year. The major stock market indexes have been under heavy selling pressure all morning ahead the speech, therefore, this tells us that the investing public is betting that the market will be weak today. Now, by some chance the market begins to rally after the speech by Chairman Bernanke it would be prudent to look at stocks that have been strong intra-day. Traders should look at stocks that are holding up well before the speech takes place. These stocks will lead the markets higher should the stock market rally after the Bernanke speech. If the stock market continues to decline after the Bernanke speech then it really will not matter.
Some leading stocks that are holding up well this morning include VMWare Inc.(NYSE:VMW), Coach Inc.(NYSE:COH), and F5 Networks Inc.(NASDAQ:FFIV). While it may be slim pickings out there these are some stocks that could be movers on the back of any rally. These stocks are simply showing us intra-day strength. Now we must simply sit back and see how the markets react to the Bernanke speech.