Today's market action has so far been extremely encouraging. As the market has rallied off its lows, I've entered into high-beta names, such as Trinity Solar (TSL) and Freeport McMoran (FCX). I've placed tight stops on these trades and look to be out in two-weeks' time. For a long-term view, I'll continue to follow the earnings and economic data.
Unemployment came in at a much better-than-anticipated 9.7%, although the report had many conflicting signals and the nonfarm payrolls fell 20,000. However, I liked the rise in temp-hirings within the business sector because 1.) It's a leading indicator into the health of the labor market and 2.) I'm looking for a summer internship :)
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