Dear Friends,
Not a good session that DOW finally shows its triple digit drop after so many days. Today ADP employment report shows what it is like to fall short of the employment report. Coupled with SF FED president saying that Bond purchase might slow down has put a sudden brake to this bullish run.
http://www.marketwatch.com/story/feds-williams-may-start-tapering-qe-this-summer-2013-04-03-15913018
It just makes Friday's Non farm payroll stake one notch higher. With ISM falling less than expectations, all eyes will be on the non farm payroll. As expectations is high that jobs reports will be good, be prepared for another backlash IF non farm falls below expectations.
My advise is not to enter position now till Friday. Only if the jobs reports report better performance, or else avoid the stock market temporarily.
Rgds
Daniel
www.danielloh.com
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