Monday, August 3, 2009

Intraday action

AlphaNinja - Markets up over a percent each -->> Positive ISM data is giving support to a recovery scenario.

“The wheels of the economic train have stopped moving in reverse and are starting to grind forward,” said Brian Bethune, an IHS Global Insight economist in Lexington, Massachusetts. “We’re starting to see a pickup in production, partly due to the turn in residential construction” and also in the automobile industry, he said.
-Not that I'm always looking for bad news, but auto and housing demand have been helped by heavy subsidies lately, which may not be sustainable.

Winners up less than the losers are down, as Huron (HURN) paces the downside.

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