Craig ... hey ... I saw this post on CMGI too .... I guess we follow the same stocks.
Re your question .... historically tomorrow should be a rally day. On the other hand, the 'experts' question whether the longs will want to hold over a long weekend. So, one could conclude a trading rally in the a.m. .....sell off in the p.m. This would also be consistent with a negative market so why not ?. Today the market traded in a range bouncing off hi's and low's. Then again, the numbers were saved by a late afternoon buy program before real selling took the market down a little further. This also supports the sell-off of a rally concept.
All this is dependant upon the European markets not getting too upset with life, and Asia behaving (so far not so bad .... but looks like even with possible government intervention, HK is going negative and the Nikkei is also down).
As for the jobs numbers, I understand that with the motor and airline strikes they wil be difficult to interpret ... and in any event, I'm not sure what would be good for the equity market .... if they come in strong, there's less chance of an interest rate cut, if they come in weak it supports the fact that the economy is slowing down. I suspect the former will impact the long bond significantly, which may be the cause of any effect in the a.m.
I'm rambling and probably not helping ... so I'll just wish you luck (along with everyone else)!!
Stephen |
