Dow +60 Points

The double-dip thesis has ruled Wall Street for the last two months, but now the earnings story is starting to wake up. Who will win out? I’m leaning towards earnings but we’ll know a lot more in a few days once earnings season begins.
The good news is that our Buy List is perking up today. Wright Express (WXS), Reynolds American (RAI) and AFLAC (AFL) are all up more than 2% today. Reynolds broke $55 for the first time since April. The shares now yield 6.5%. The Buy List is now inches away from breaking even for the year.
This week is a bit frustrating since it’s short due to the holiday plus there’s no real news coming out. Next week, we’ll get some earnings, Fed minutes, inflation reports plus some retail sales numbers. Until then, traders are just trading.

Posted by on July 8th, 2010 at 3:18 pm


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