Bulls or Bears: Who's Really in Charge?

by Sam Collins   07/02/09
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But so far the bulls have succeeded in holding off any heavy liquidating, and with such puny volume, it is very difficult to determine whether the bulls or the bears will lead the market in the near future.

For now it is best to wait this out and let the market tell us the direction of the next move. But, remember the bull is still the long-term animal of choice and any dramatic pullbacks are viewed as buying opportunities.

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Today's Trading Landscape

Earnings to be reported include: Acuity Brands (AYI), Methode Electronics (MEI), MSC Industrial Direct (MSM) and MSCI (MXB).

Economic reports due: June 27 weekly jobless claims (the consensus expects 619,000), June non-farm payrolls (the consensus expects -350,000), June unemployment rate (the consensus expects 9.6%), June 20 DJ-BTMU U.S. Business Barometer, May factory orders (the consensus expects +1.2%), June 19 EIA natural gas inventories, and June 22 money supply.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted at samailc@cox.net. You can also check out an archive of his most recent market outlooks.

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