The ISM Manufacturing Index for January hit a five-year high of 58.4, which topped the consensus call of 55.5. Investors used the recent selloff as an opportunity to get back into stocks. JMP Securities upgraded Advanced Micro. Signal Hill upgraded Cisco. They believe Cisco's recovery continues to gain momentum and expect the company will return to double digit growth. QQQQQ imlied volatility inched lower to 21.4.
Tuesday, February 2, 2010
Bounced back on strong economic data
The ISM Manufacturing Index for January hit a five-year high of 58.4, which topped the consensus call of 55.5. Investors used the recent selloff as an opportunity to get back into stocks. JMP Securities upgraded Advanced Micro. Signal Hill upgraded Cisco. They believe Cisco's recovery continues to gain momentum and expect the company will return to double digit growth. QQQQQ imlied volatility inched lower to 21.4.
