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Are There Reasons to Worry?

February 2, 2011 – 5:01 pm

Egypt is still unsettled but investors do not think it means much on the world scene as they have pushed prices back up to the pre-Friday levels. The steep fall on Friday has been erased.

Earnings should take much of the credit as we are in the last part of earnings season and the numbers again have been very impressive. Add to that the strong economic numbers we have gotten this week and the underpinnings for a strong market are in place.

This morning the private sector jobs report for ADP came out and they reported that in January the economy produced 187,000 new jobs. The official report comes out on Friday and that will include public jobs unlike this report.

It is worrisome that most pundits are positive on the stock market at this point. History has taught us that when every one is on one side or the other when it comes to the stock market it generally goes the opposite way. The problem is that it is impossible to time those swings.

Good Trading
Steve Peasley

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