Thursday, July 3, 2008
Unemployment, Jobs Report in Line With Expectations, Markets Pullback then Rally
Unemployment held steady at 5.5% as expected and jobs fell by 62,000 compared with an expected job loss of 60,000.
After the first hour of trading the DJIA is up about 50 points, the SPX and Nasdaq are just above even for Thursday and the RUT is down more than four points. The trends are still down and any bounce would be a counter trend bounce at this time.
Stay focused on the trend and support and resistance levels and follow your rules.
Enjoy the three day weekend. Tomorrow is the Independence Day July 4 holiday. No trading.
Early Thursday Action
Moving Up: BIDU, AAPL, IBM, PCLN, GS, AMZN, LEH, MTL, CELG
Moving Down: POT, FSLR, AGU, CF, SCHN, IPI, MOS, FWLT, CNX, BTU, ANR, MON, MEE, CLF, BTU, DECK, X, DRYS, V
Subscribe to:
Post Comments (Atom)
1 comment:
Dave I notice V is on your "Down" list and I'm curious about what you are doing with your position now.
I remember at the IPO you took a position commenting that you weren't using any stops just yet, because of the nature of the company and the high price of Mastercard.
What is your treatment of it today?
Post a Comment