The markets closed off their lows of the day and every major average managed to end green. The Dow, as we have mentioned, was quite deceiving as close to 40 points is the direct result of Altria (NYSE: MO) which advanced nearly 6% after a favorable litigation ruling.
The action was mixed in MoLand with many of our small earnings winners getting taken behind the wood shed while others continued to act well and advance nicely. Volume was light and it was more or less a result of a lack of bids rather than intense selling. As the day wore on it became quite clear that not many participants, including us, were interested in doing anything grand ahead of tomorrows employment data.
Coming into tomorrow a bit weak may bode well for a pop should we see anything other than a surprisingly strong number. The ADP report that was released yesterday has raised the bar and we suspect some decent action should numbers come in a bit light. Regardless, it will be very important that we are on our toes as the action may be heated and will mandate our complete focus and attention.
Rest up tonight and well see you back here tomorrow. Have a good evening.
RevShark