Market Backs Off

Thursday, July 31, 2008

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The market backed off today after finding resistance losing 205 points after gaining over 450 points in the previous two days. The massive two day gain was a case of "too far, too fast" and the pull-in was expected. I am hoping for a disappointing jobs number pre-market tomorrow morning to gap the market down and give me a great negative-to-positive trade in the indexes and select stocks. We shall see how the jobs come out...

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