So far another quiet trading day. It seems like everyone is watching and
waiting for something, not sure what.
Apple, AAPL, make another new 52 week low at $422. If you are looking to buy you should be able
to get in at $400 but I still think you should wait. The Euro has broken the 1.30 level versus the
dollar, a new 3 month low. President
Obama appears to be saying the right things to get the ball rolling on the
sequester, specifically that social programs may have to be cut, they
will. The main driving forces this week
will be PMI, purchasing managers index, several central banks meetings and at the
end of the week the Friday’s US jobs data.
The expectation is 166,000 new jobs were created in February, similar to
the number in January. As a side note we need a much larger number to truly get
the economy running again but if this number is significantly smaller there
will be a sell off.
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