Wednesday, September 01, 2010

Wednesday Market Thoughts

Well, yes.   I am happy with the Labor Day trade I made on Monday.  I remain 100% invested in high-beta stocks.

So today will probably qualify as an Investors Business Daily follow through day.  Nice price move.  Nice volume day. 

I don’t know what’s getting the credit.  The ISM number?

image"Investor sentiment was so negative that any flicker of light was going to move sentiment with quite a roar, and that's what we got," said Anthony Chan, chief economist at J.P. Morgan Private Wealth Management. "With the purchasing-managers index coming out of two largest economies in the world—China and the U.S.—coming in larger than expected, you can't ignore that this is good news."

"If there are markets that are growing, U.S. companies can prosper, regardless of the domestic labor markets in the next few months," said Jerry Webman, chief economist and senior investment officer with OppenheimerFunds.

Dow up 2.5%. 

SP500 up 2.6%

Nasdaq up 3%.

QQQQ up 2.99% and the VB up 3.69%

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