The ISM Manufacturing Index for December exceeded expectations. After stocks ascended to new 12-month highs in late morning trade, they spent the rest of the session drifting sideways, which left the QQQQ to remain in a range. FBR Capital Markets noted while it is evident that Yahoo! is making progress in trimming costs and driving a more focused strategy. The QQQQ implied volatility inched lower. However, investors remain nervous. The first few trading sessions of a new year are typically positive and investors want to see several more days of gains on strong trading volume before betting on the rally.
Tuesday, January 5, 2010
Jumped on strong economic data
The ISM Manufacturing Index for December exceeded expectations. After stocks ascended to new 12-month highs in late morning trade, they spent the rest of the session drifting sideways, which left the QQQQ to remain in a range. FBR Capital Markets noted while it is evident that Yahoo! is making progress in trimming costs and driving a more focused strategy. The QQQQ implied volatility inched lower. However, investors remain nervous. The first few trading sessions of a new year are typically positive and investors want to see several more days of gains on strong trading volume before betting on the rally.
