Friday, September 07, 2007
Back in the Game!!
Wow!! Its been a while but we are back in the markets looking for some profits.
Not on the SPX as we don't want to have an open position on before the key Fed meeting on interest rates on the 18th September - in these markets you just don't know what will happen!!
We are trading a double diagonal on Whirlpool (WHR), a stock I know well and trade a lot. Whirlpool finished up yesterday just above 95. We are in the middle of our green zone.
Generally yesterday stocks saw mild gains following round of positive economic news. The Dow ended the session with a gain of 57.88 points to close at 13,363.35. The SPX added 6.26 points to 1,478.55.
Today session will be highlighted by the employment report for August. Expectations are for nonfarm payrolls to rise by about 100,000, though recent data has been mixed. Overall, traders would like to see a solid gain, but stocks would suffer if payrolls rise too sharply, as this would lessen the likelihood of a rate cut later this month.
Until next time.
Not on the SPX as we don't want to have an open position on before the key Fed meeting on interest rates on the 18th September - in these markets you just don't know what will happen!!
We are trading a double diagonal on Whirlpool (WHR), a stock I know well and trade a lot. Whirlpool finished up yesterday just above 95. We are in the middle of our green zone.
Generally yesterday stocks saw mild gains following round of positive economic news. The Dow ended the session with a gain of 57.88 points to close at 13,363.35. The SPX added 6.26 points to 1,478.55.
Today session will be highlighted by the employment report for August. Expectations are for nonfarm payrolls to rise by about 100,000, though recent data has been mixed. Overall, traders would like to see a solid gain, but stocks would suffer if payrolls rise too sharply, as this would lessen the likelihood of a rate cut later this month.
Until next time.
# posted by Paul @ 3:35 AM 
