Investors Business Daily's "Market in Uptrend Call" was sabotaged by the release of worse than expected numbers in the ISM survey report today. The Institute for Supply Management's index, a gauge of national manufacturing activity, slipped to 53.5 for May, down sharply from 60.4 and below expectations of 57.6. The employment report is due out tomorrow. Based on the ISM report, estimates for job gains are being slashed. Additionally, Standard and Poors downgraded Greek Debt.
I did add to equity positions after the initial 150 Dow point dip. I may have to re-assess this move if we don't get a bounce tomorrow.
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