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IBDvalueinvestin (99.66)

Up 100 pts then down -200 pts. Its 1 step up & 2 steps down

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June 01, 2011 – Comments (4) | RELATED TICKERS: SPY , QQQ , SPXL

Stocks falter after weak economic data

U.S. private employers added a scant 38,000 jobs in May, the lowest level since September 2010, according to ADP Employer Services data.

The Institute for Supply Management's index of national factory activity fell to 53.5 in May -- its worst since September 2009 -- from 60.4 the month before.

 

4 Comments – Post Your Own

#1) On June 01, 2011 at 12:40 PM, IBDvalueinvestin (99.66) wrote:

Funniest thing I noticed today is ZAGG up +1.07 to 11.35 and trading a higher mkt cap then FCEL which sells technology that produces electricity a product mankind can't live without. But people rather buy a cover for their ipod or iPhone instead and buy ZAGG shares.

For mankind to become less dependent on oil or nuclear power, they have to first put their toys aside and that may never happen.

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#2) On June 01, 2011 at 2:32 PM, awallejr (77.67) wrote:

And yet they still ADDED jobs, and factory activity was still positive.  Today's action is just algorithms doing their "job."  I still will stick to my prediction that the DOW will hit 13,000 this year assuming no major calamity.

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#3) On June 01, 2011 at 3:05 PM, Frankydontfailme (27.77) wrote:

Assuming QE3...

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#4) On March 16, 2012 at 12:22 AM, awallejr (77.67) wrote:

Well I always said my timing sucked, but here we are at DOW over 13,000 and no QE3.

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