It is going to be a “SELL” day to book profits or cut losses.
Buying into the sell frenzy later in the day is something we would watch carefully as the Euro dropped dramatically today after a 3 week run,
China Export to the US dropped lower than expected and JPMorgan is set to announce lower than expected earnings by almost 10%.
JPMorgan stock could still rise as they tend to target their earnings lower since the banking crisis hit in the last few years.
On the penny stocks we recommended to watch last week:
Sebring Software (SMXI.OB) has yet to announce any news of their contracts discussions with one of the largest manufacturers in the computer industry.
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