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Thursday, September 9, 2010

Initial Jobless Claims Down More Than Forecast

Trade Deficit Also Down Less Than Forecast

*expect a rally today to try and hit the 200 day moving average on the S&P. We are so close really and as long as Asian and European markets can keep a lid on their problems, at least temporarily, the US will milk it for all its worth and continue to drop the dollar so the 10 yr and the stock market can go up. The only problem we have is that markets and a good deal of stocks overall, are all getting up to overbought levels on the daily charts. That being said, it hasn't stopped them in the past from ticking it to the upside going into election. Remember, the party in charge gets to control the flow of info, therefor, the stock market. A look at today's numbers should give you the clue.

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