Ticker Price
1 IBM 131.78
2 SLB 70.83
3 CAT 60.12
4 MSFT 30.86
5 JNJ 64.56
Most of these have a potential to sell of into the news of its earnings, it is know that no one should trade on the minutes before the earnings announcement news. Old adage: "Buy The Rumor and Sell The News". Friday's drop in the market due to the earnings announcements of the AA, INTC, JPM, which were for the most part favorable, however. The market, which we believe was trying to full digest the jobs numbers and FED news, also with Monday being a Holiday and the US Market will be closed and re-open for a full trading day on Tuesday with a shorten week. Stocks suffer the worst one-day decline of 2010 so far, led by the financial sector,as 1 in 10 American workers remains unemployed. It could have been far worst than what we saw on Friday, PPT, FED, or GS are they doing us a favor in setting false hopes, feel good it was not as bad has we need it to be.
Trader decided to take some of the gains off the table and move on to the festivities.
With the HFT and TAXES we may see more selling the days to come with April 15th; just around the corner, some will have to pay the taxes from last years gains, if there were any to be had. It is hard to tell in this new age market, adept and trade the hell out of it when it goes your way.
Keep the powder dry and take what the markets give ya!!
