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DIP BUYERS STILL IN THE DRIVERS SEAT

|Includes:AAPL, BAC, C, DBA, DJP, EEM, EFA, EPI, EWG, EWS, EWU, EWY, EWZ, FXE, FXI, GDX, GLD, GS, GXC, IBM, IEF, ITB, iShares Russell 2000 ETF (IWM), IXC, JJC, JJG, KBE, KRE, MSFT, QQQ, RSX, RYT, SLV, SPY, T, THD, TLT, UGA, UNG, USO, UUP, VNQ, XLF, XLK, XLV, XLY, XME, XRT

European stocks rose early on thoughts from bulls that the sovereign debt crisis will be contained. Well, maybe for a week or two. China manufacturing data improved to a reading of 51 from 50.5. In the U.S. Jobless Claims (513K vs a revised 353K previous); Personal Income & Outlays (.3% vs .5% expected and Spending .2% versus .4% expected). The so-called Core PCE Price Index (.2% vs .1% previous); the important ISM Mfg Survey missed but still expanding (52 versus 54 expected and 54.1 previous) and, Construction Spending also missed (-.1% vs 1% expected and previous 1.4%).

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Stocks: IWM, QQQ, XLK, RYT, AAPL, MSFT, IBM, T, BAC, C, GS, KBE, KRE, XLF, XLY, XRT, VNQ, ITB, XLV, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, XME, DJP, USO, UGA, UNG, IXC, JJG, DBA, EFA, EEM, EWG, EWU, EWS, THD, EWY, EWZ, RSX, EPI, FXI, GXC, SPY