Good morning. We start the day with a positive bias. Rallies in overseas markets, more speculation concerning worldwide bank rescues, a little M&A activity, some buying interest in technology (
CSCO,
RIMM,
HPQ), and falling jobless claims are this morning's focus. There's very few new negatives to deal with and that is helping.
Premarket gainers: ANSS, RIMM, CPS, BCSI, JCP, NTES, LOCM, SNPS, SINA, ITRI, TEX, DGLY, SQNM, TSCM, MDRX, CSCO, GA, ACH, SID, MRVL, TEX, SEED, COIN, DRYS, LLNW, and TITN.
Premarket losers: VDSI, NVTL, SSRX, CTCT, ANDS, LAD, MSSR, ZEUS, OII, CECO, VRGY, PSYS, LNET, MCRI, and ANSV.
At 10AM investors will receive two pieces of data - the Philadelphia Fed Survey and the Conference Board's gauge of leading economic indicators. Both probably will be market movers. That said, at this point traders both bullish and bearish are having difficulty trusting the tape. Every day it seems to do its own thing and without much rhyme nor reason.
The market will settle out eventually and the next trend will be formed. For now, the key is to not let the market and the daily swings get the best of you or distract you away from finding the opportunities that are out there in spite of the ups and downs. Have a terrific Thursday!
