Friday, September 4, 2009

FRIDAY -- WITH A HOLIDAY WEEKEND AHEAD

Most of yesterday was quite flat – but that squeeze that we mentioned as a possibility happened during the final hour yesterday, giving the market the kind of strong finish that we have seen often over the past few months. Although volume was not heavy, the Bulls were able to finally get something going.

“The U.S. jobless rate in August jumped to 9.7 percent, the highest since 1983, and employers cut another 216,000 jobs, highlighting threats to consumer spending,” reports Bloomberg.

Trading may be choppy today -- given the strong finish yesterday, the Bulls may be able to take the market higher today. But remember, too, that if there is a gap up, it can also fade. So keep a vigilant eye.

We will be watching the market winds closely – still sticking to the pattern of small moves. The holiday weekend generally means that many traders and investors are off for some fun with family – and light volume can lead to some whippy action.

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