Maris Ogg, president of Tower Bridge Advisors: "We were hoping for good news, and we just didn't get it. But it's hard for me to see how we get much outside this trading range with the uncertainty we have out there,"
Stephen Wood, chief market strategist at Russell Investments: "The Fed will be focused like a laser beam on the jobs situation. The economic recovery is going to be like running on the beach with boots on."
Dave Rovelli, managing director of equity trading at Canaccord Adams: "We're two years into this recession, and we're not getting any better -- we can't even add jobs," http://www.marketwatch.com/story/us-stocks-drop-on-disappointing-jobs-report-2010-08-06
Art Hogan, chief market analyst at Jefferies & Co: "We've got a market that seems to be waiting on pins and needles ahead of the all-important payrolls report. Investors are waiting to see if the economy has hit a soft patch, or taken a right-hand turn. Unfortunately, we need more data before we can determine that." http://money.cnn.com/2010/08/05/markets/markets_newyork/index.htm
AUSTRALIA MARKET
Markets head of trading James Foulsham: Theres not a great deal of movement either way. Most of the sectors are down slightly, but not very much. Its just going to tick along for most of the day unless we see a big move one way or the other in Asian markets, http://www.theage.com.au/business/markets/stocks-ease-after-mixed-leads-20100809-11rec.html
Australian Stock Report resources analyst Stan Shamu: A key reason for the turnaround in trading had been miner Rio Tinto saying it was comfortable with the proposed resource rent tax. One of the main reasons for the miners being stronger was Rio Tinto coming out and saying they are comfortable with the revised resource rent tax," http://www.thebull.com.au/articles/a/13387-stock-market-rallies-at-noon.html
Try not to risk more than 4 or 5 percent of your funds on any trade and set your exit point before you acquire into a trade.
