its hard for me to see the employment figure boosting stocks. with the momentum turning negative, looks to me like the employment report will help aid to the downside.
Be surprised, then. I am still surprised that a trader can be caught "surprised." Markets have a way to be very surprising, indeed.
Econ data doesn't have the same affect as before because it is expected that the US economy will slow down. The S&P hasn't topped out yet and it is too early to call a top on it. Infact, I woudn't be surprised if it set a new high in about 3 months.
I wouldn't quibble over semantics if it could be true Does anyone track Bernie Schaefer? I get some of his stuff (mostly ads). He's trying to make the argument that the S&P will breakout to the upside very soon...maybe within 2006.
A couple of years ago, a friend asked me to look at Schaefer's options ideas. I thought they were total crap. Pretty amateurish stuff in my opinion. I don't know what he's putting out now but I'd look elsewhere for market insights.
I think you are right on that advice. He put out some stuff about AAPL a few month ago...how it would never regain its' lofty highs. Of course it soared not long after that. These Schaefer tidbits are a free (basic) service through my online broker. I'm getting what I'm paying for. One day I will start a thread regarding Terry Allen and his Terry's Tips. I signed up for that one years ago and thankfully never followed any of his suggestions...I'm getting beyond the scope of this thread. Good trades all...
The chart is looking "Tired" and due for a breather. Would not be supprised if it is done for the year, or at least a pullback to the 1330 range. My 2 cent....
How sad is it that I ask a relevant thread question to bozente, and he's totally unable to give a relevant, market related answer. Just plain sad. bozo's response: