Trade Ideas for February 4, 2010
The bulls look like they are showing some nervous jitters, as futures and overseas markets are down quite a bit. I wouldn't be surprised to see today's trading appear to be schizophrenic with the monthly employment number coming out tomorrow. For today though, you have ;the Jobless Claims coming out at 8:30am, which always plays a significant role in the direction of the market each Thursday, followed by the Productivity and Costs at the same time also.
Currently the futures are in negative territory with the Dow down 52 points, followed by the Nasdaq at 9 points, and the S&P at 7 points down.
Here are Today's Trading Ideas...
Potential Swing Trade (Long): Greatbatch Inc (GB) - Has shown signs over the past couple of months that it has finally bottomed, and not only that, but has put in three successive higher-lows and higher-highs. After a significant short-term run up, GB has pulled back to the 50-day moving average and the overall trend line. Stop-Loss at 19.31.
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