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Let’s Start With The Economy
Dow Up Over 100 Points
Nasdaq And SP Up Just Few Points ??
One Stock In Dow Jones Had Strong News
Merck Announced Skin Cancer Treatment
Made It Look Like Entire Market Was Moving Up
Unfortunately, rally was limited to Down Jones
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The Fundamentals
Today 2 Reports Came Out
Factory Activity Is Decreasing
Manufacturing Down - Lowest Since Last June
Investors Still Very Concerned About 85 Billion Month
Bond Buying Program
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Market Sentiment
More Stocks Closed Down Today
More Stocks Are Turning Bearish
Funds Are Beginning To Lose Confidence In This Rally
Sentiment Is More Bullish Than Last Week
Start Seeing Higher Openings And Lower Closings
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Big Reports This Week
Friday – Non Farm Payroll
Wednesday – Beige Book Economic Conditions
Friday’s Numbers Are Most Important
Everyone On Wall street Is Waiting For Friday’s Report
Market May Move In Anticipation Of Report
Starting Thursday Morning
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Current Positions – PFE Stock
Stock Rallied Today Due To Merck
Keep Buy Limit Order At $27.00
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Current Positions – MGA
Maintain Open Position Till Further Notice
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No New Positions Today
Stock Market Too Choppy
Stocks Don’t Have Clear Direction
Will Consider Range Bound Patterns If This Activity
Continues Over Next Several Days
Never Trade For The Sake Of Trading