[URL="http://mish,marketgauge.com"]
There isn't necessarily a strong relationship between a company's profits - or losses - and that same company's stock performance. The exciting part of earnings season for me is that when it corresponds with certain technical setups, you can bank on volatility right before and directly after the stock report-a trader’s dream!
With that said, unless you are a student of seasonal patterns, never keep a position into the report. No regrets...

Gold Tops $1,200/oz


Gold has topped its highly psychological $1200/oz level again and the precious metal has clearly re-entered the realms of its medium-term uptrend. Investors are fleeing to the precious metal again as investors lose confidence in the Dollar amid discouraging economic data. Today’s non-farm payrolls data disappointed just like yesterday’s weekly unemployment claims figure. Hence, the U.S. employment market is not improving as quickly as required in order...

U.S. Nonfarm Payrolls tumbled 131K in July after tumbling a revised 221K the month prior amid economists’ forecasts for a drop of 65K. Going into the North American trade, we may continue to see the U.S. dollar lose steam following the dismal report.

Yesterday, Monster.com released their employment index in which showed that online help-ads in July fell to 138 from 141 the in June. This reading is of great importance in that it reviews overall employee demand from online recruitment...

I haven't been trying to day trade at all the past couple weeks. Still to busy with my other work. Here is my SPY charts I have been looking at. I have no idea if anything will come from this, but it is how I am looking at it right now, but it still could certainly continue on up to new highs... that lower lower might not be all that significant.

It's a quiet morning here. I will spend the day watching a couple little league games at the last little league tournament of my sons career...