Respect the Action
The market is holding up well and all the major indices are trading near their intraday highs. The bears are unable to get anything going in this thin trading and there seems to be a decent supply of impatient dip-buyers. Although the market is still technically extended, there just isn't any interest in profit-taking.
The big question is what will happen on the monthly jobs report tomorrow morning. As I mentioned, Goldman Sachs ramped up its predictions and expectations have gone up after the ADP released its number. Is this a setup for a "sell the news" event, or is it just another potential squeeze of the bears who are trying to call a top?...207 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.