Stocks had a weak open with the Nasdaq Composite down as much as 0.9% intra-day. By the close the DJIA (DIA), S&P 500 (SPY), and Nasdaq Composite (QQQQ) each finished up 0.2% on mixed participation from investors. The basically flat close is what you would expect to see the day before a key economic report. Tomorrow morning at 8:30 we get the U.S. jobs report from the government. The DJIA and S&P 500 both traded below their psychological levels of 12,000 and 1,300, respectively but closed above them. The Nasdaq Composite rose above the 2,755 resistance level intra-day but was unable to close above it for the third day in a row. The prudent approach remains not opening new positions in stocks, protect profits, and keep losses small.
No positions in securities mentioned.
BTDStocks.com Thursday, February 3, 2011 End-Of-Day Update
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