Thursday, December 07, 2006
Profit Taking Thursday
Thursday saw some profit taking as nervousness set in ahead of the employment report Friday. The Dow ended the session with a loss of 30.84 points to close at 12,278.41. The SPX fell 5.61 points to 1,407.29. This is good news for us as our position has almost become delta neutral and is almost in the centre of our green zone with only 5 days to go.
The markets got off to a good start this morning after jobless claims showed a sharp decline this past week. However, resistance held and worries about the employment report Friday left traders selling some of their recent gains. Disappointing news from Apple and Home Depot were a problem for stocks as well Thursday and did little to brighten the mood.
Tomorrow the key Employment report is released. Expect movement down if it is not good.
Until next time.
The markets got off to a good start this morning after jobless claims showed a sharp decline this past week. However, resistance held and worries about the employment report Friday left traders selling some of their recent gains. Disappointing news from Apple and Home Depot were a problem for stocks as well Thursday and did little to brighten the mood.
Tomorrow the key Employment report is released. Expect movement down if it is not good.
Until next time.
# posted by Paul @ 5:47 PM 
