Friday brings the Labor Department’s nonfarm payrolls report and unemployment rate for April. After weak readings on ADP employment and jobless claims the last two days, traders are not optimistic. Because of the poor jobs data on Wednesday and Thursday, it could be that the market has been pricing in a meager payroll unemployment report as well the last two days. This could set up a “buy the news” scenario, in which even a poor unemployment report leads to a relief rally in the markets.
The following companies are among those reporting earnings: Constellation Energy (CEG), Weight Watchers (WTW), YRC Worldwide (YRCW), Berkshire Hathaway (BRK).
We’re watching to see when and if FCSC & TLON are going to break out of their consolidation channels to new highs. With the market’s pulling back, these health care related bio-tech stocks might benefit from sector rotation amongst funds into a more defensive sector. We’re also watching to see if momentum can carry CDIPQ past a penny as the stock has an intriguing story. There are documents showing that Vicis Capital Master Fund owns 62% of the common shares outstanding. We’ve seen stocks like THMRQ run on all types of story lines, so why not CDIPQ?
P.S. Get excited! We’ve got a special alert coming 3 minutes before the bell that we think will put profits in your pockets. Oh but there is a catch… the blog post with the pick in it will be password protected, so you’ve got to be in our chat room in the morning if you want to know what the password is. We don’t want anyone but stockhaven members able to view the post until all of loyal members do first
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