Looking Precarious on the Nasdaq
As we await the employment-data release, I think the biggest market surprise will be flat action. After all, the bulls expect a great number, while the bears anticipate a disappointment -- and both camps foresee the market following suit. Of course, there are two more groups to include: those who want a good number so they can sell the news, and bulls who will want to buy the dip.
But ask yourself this: If the jobs number is disappointing, will the bulls still want to buy the dip? If you are looking for a 3%-to-5% correction, you are essentially calling for a move that gives back up to all of January's gains -- and, if that happened, would it constitute bullish action?...433 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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