I would prefer to begin by suggesting that you read Jeff Miller’s preview to the June Employment report.
Overall, from a trading perspective I think that the report is a flip of the coin. My gut tells me that there is a bias on the part of traders on the under. Any print of 150,000 or more jobs, a positive surprise will ignite a further rally. On the other hand, after a solid beginning to July, anything less than expected could take away the constructive advance we have had in the last few sessions.
No matter which way the ball bounces, I expect that the markets will dry up by about noon. I would like to be on the lake by this afternoon.
Amazon (AMZN) wants to build a smartphone. I don’t see how that can be much of a market taker.
Disclosure: At the time of this commentary Scott Rothbort, his family and/or clients of LakeView Asset Management, LLC had no positions in stocks mentioned — although positions can change at any time.
Scott Rothbort is also the publisher of the LakeView Restaurant & Food Chain Report, a newsletter focusing in on food, restaurant and agricultural stocks. You can subscribe at www.restaurantstox.com
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