"Goodmorning...A decent day for the markets on Tuesday after benefiting from a rather tame CPI number. CNBC displayed an interesting chart of inflation, which reflected basically a very short-term spike, which looked nothing more than a small blip in a longer-term multi-year secular downtrend. Manpower (NYSE:MAN) also reported another improved outlook for hiring by their clients across all regions. The gains have been slow moving, but clearly a pick-up in job creation is happening despite the lack of media attention. Lastly, Schwaab reported a sharp decrease in online trading from April...some of this is seasonal, and some of this reflects the individual investors frustration with the narrow trading range that spans all the way back to October of 03. When traders start throwing in the towel its usually a bullish sign. We think a lot of things have lined up for a surprise move higher here over the next several weeks.
Your new stock pick today is Ariad Pharmaceuticals (Nasdaq:ARIA) with a target of $9.00 and a stop/loss at $7.00. Huge volume coming into the stock at recent levels off a big oversold drop...should be ready to move back at least to resistance at the $9.00 level."
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