Failure at Resistance

By: Wall Street Warrior Friday, August 01, 2008 12:19 PM

Article Author

Bio and Articles
Author's Website

Vote for next session

The next market session will close:

The session started on a sour note after disappointing GDP figures and initial claims. The gap was quickly filled on lower oil and several upbeat earnings form some widely held names. The NASDAQ outperformed the broader markets, but late in the session, everyone headed for the exits and prices swooned into the close. Profit taking ahead of tomorrow's jobs data, I guess.

Oil retreated following yesterday's bounce, commodities, followed oil lower. Strength in biotechs and airlines.

Tomorrow's economic data includes Construction spending and ISM index at 10:00, as well as key jobs data at 8:30.

BIIB disclosed 2 cases of PML in patients taking Tysabri. BIIB's partner is ELN and both charts look about the same.

Stocks set to gap lower on AH earnings include: BOOM, HNSN, TOMO. Gapping up: THOR, SWIM.

Bookmark:
Email
Print

The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.

Related Stories