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CIO at a privately held financial services firm in Florida. Passionate about the stock market and business trends, writes for SeekingAlpha and MotleyFool. MBA from University of Florida, Warrington School of Business. Twitter updates: @hitjo
My blog:
The Efficient Frontier
  • Watch Out For XLI Action On 07/03/2012 0 comments
    Jul 3, 2012 8:35 AM | about stocks: XLI

    Yesterday, the ISM data disappointed many; the figure was 49.7 vs. expected 52.3, and also below the last month's 53.5.

    Investors did find some relief in the construction spending figures, that were at 0.9% vs. the previous 0.6% .

    If the latest factory orders data comes out positive for the manufacturing sector, US based Industrials could have a grand day. XLI could end up trading in the $36-$38 range.

    However, a bad factory orders would be equally bad for XLI. Keep a watch on XLI and all industrials today.

    NOte: XLI has 200-day MA of $34, with slightly bullish short-term patterns in 06/29/2012.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: Industrials Stocks: XLI
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