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MARKET WRAP UP 01/06/11
In front of a much-anticipated jobs report tomorrow, today’s price action was overall relatively tame, as the S&P 500 finished down 0.21% to 1273. While many of the large cap technology stocks once again performed admirably, there was distinct weakness in the commodity and retail areas, namely in the silver and rare earth miners. That type of contrasting action reinforces my working thesis that we are seeing a rotation of capital by the big money.
Regardless of what the actual jobs number is tomorrow, I will be watching closely to see if the hedgies and large fund managers use it as an excuse to continue to redeploy capital as they see fit. Just as we have seen the market buy stocks in the face of poor economic data, we could just as easily see a much-improved employment report as an excuse–not a catalyst as many macroeconomic traders claim–to further take profits in retail and commodities and move to other areas of the market.
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Hey Chess! Do you still post set ups for the wek on the 12631? I have not seen them on the PPT and I miss them! I am having some issues finding my way throught the PPT but I could add the 12631 if it would help focus things.
Ok, went through some screens and I am liking:
EW
NFLX
It hurts to write I like NFLX but the setup is what it is. Any thoughts welcomed.
GYSC,
My work is now exclusively inside the 12631service. Here is the information page. You should consider if it is for you. Be sure to read the testimonials at the bottom (many of which were unsolicited).
http://12631.ppt.ibankcoin.com/learnMore/
GYSC – I’ll add some more:
1. “Just do it!”
2. “Best money you’ll ever spend.”
Seriously, it’s an incredible bargain. It will pay for itself very quickly.
Sold CSCO (+8.2%).
Ok, I bought 12631 last night. You guys are a bad influence.