April 1, 2010

Monster Market Review:

U.S. stock futures pointed to a stronger start Thursday ahead of a three-day break, helped by overseas data that suggested the global economic recovery is on an upswing.

U.S. stocks ended lower Wednesday after ADP surprised economists by saying private-sector employment declined in March, with the Dow Jones Industrial Average falling 51 points, the Nasdaq Composite sliding 13 points and the S&P 500 dropping 4 points.

 

Ahead of Friday’s nonfarm payrolls report, Thursday will see a number of statistics released, including the Institute for Supply Management’s manufacturing survey for March, weekly jobless claims and monthly car sales from Ford Motor Co.

Overseas surveys released Thursday were generally strong, with two surveys on Chinese manufacturing both showing quicker growth in March, the Bank of Japan’s key business sentiment survey showing less pessimism, and a U.K. manufacturing survey at its strongest since 1994.

Hong Kong stocks ended at their highest level in more than two months, and European stocks also saw a strong start to the second quarter.

Oil futures moved over $84 a barrel, and copper futures climbed as well.

Monster Talk:

Whats been a stagnant week for the markets should end on a high note here before we are off for an extended Holiday Weekend.  This week our portfolio has been mixed, in fact this probably was the worst week we have had in 2010.  The love volume and sideways action did not allow us to book many profits although we did manage 2 in BAC & GNW.  Today we should see our open positions come to life again and regain ground.  Next week the fire should be back in the markets as traders will be back.  Depending on the market action today we may not add a new trade and just wait until Monday.  There are a few positions that could come close to there targets today so please be alert.  Enjoy the day and enjoy the extended weekend.  Be ready come Monday morning…