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Stocks bounced between gains and losses on Wednesday as Wall Street closed out the first quarter of 2010 with about a 5% gain for the 3-month period. But can this market continue to push higher into Q2 or are the headwinds starting to kick up – especially headwinds from the jobs market.
Strategy Session with the Fast Money TradersThe market is pushing higher despite the ADP jobs report which showed U.S. private employers shed 23,000 jobs this month, missing expectations for a rise of 40,000 jobs, says Guy Adami. It just goes to show - you can’t fight the tape. However long-term I’m bearish, Adami adds, however I would not fight the tape until it breaks 1150 on the downside.I just can’t understand why the market keeps climbing, adds Jared Levy of Peak6. I want to call Susan Powter and shout “Stop the insanity.” I can’t get long until we get the jobs report. I expect to see the market drop by the end of the week. I’ve been selling into the rally, adds Brian Kelly of Kanundrum, but so far that hasn’t worked. Into the close I’m a buyer as long as it trends higher.--------TROLLING FOR WINNERS AND LOSERS
With the quarter drawing to a close, we put together this list for you of the best and worst stocks in the S&P. Top 5 S&P Performers YTDZions 70%Genworth 63%Smith Int'l 57%Tyson 56%Cliffs 54%
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