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chart A three day wining streak on the markets finally came to a crashing end today after investors pulled out towards the end of the bell on fears of another surprise jump in the jobless numbers which come out Friday morning. A stock I was watching today was (BAC), Bank of America was leading the pack early in the day with gains after announcing a payback structure to give back the TARP money and as the day went on, the stock just faded into the ground. Lucky for investors, the broader sectors were facing the same dilemma. Other notable drops came from American Express, the biggest credit-card issuer by purchases, fell 5.3 percent to $38.87 for the largest drop in the Dow average. On the retail side, Abercrombie & Fitch and Macy’s Inc. declined after reporting a drop in business last month as discounts failed to persuade shoppers to increase their spending on holiday gifts.

Here is the market summary for Thursday:

With the anxiety over the jobless numbers already factored into the markets, it seems that most are expecting a lagging number. Anything better, that is, anything positive that can surprise the markets will immediately initiate a new market rally. But I’m not going to hold my breath. I am expecting for a modest gain on the markets before the second punch on the Factory Orders posts a drop from previous month.

Play cautiously if your jumping into the markets. I am still holding my previous stocks and waiting for another swing opportunity. I have talked about CytRx (CYTR) in the past, today it was given a “buy” rating which really gives me another pat-on the back and a nod to all the people that got into this stock earlier. The company has some solid medical potential and with this initiation for a “buy” its could be a rewarding play!

Happy Investing!

Aman, MBA

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