Monday, April 7, 2008

Apr-8 Daily updates

Let me try to be short as I'll have last of my recent interviews in the Netherlands and won't be back before today's market close.

AA missed, however, the market does not act negatively, as yesterday's drop has already priced in the earnings. Let's see how big money react in today's market.

The metal stocks are mainly priced by metal futures, so I don't think we need to worry about other mining companies.

Today's data will provide two different direction for very short term: Good data may fuel the market to hold above 12700 to establish a good uptrend momentum, while bad data may bring DOW back to 12300-400 area as a recent correction.

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