9:50am (EST) I posted a little late because I wanted to see how we opened this morning.  Futures were strong last night but took a turn for the worse after it was revealed the jobless rate for the 16 nations that use the euro climbed to a new 10-year high of 9.5% in July. As a result, the Dow is currently trading at 9,480, down 15 points.  Not too bad considering the news and yesterday’s downward momentum.  Of course, all eyes will be on the Institute for Supply Management (ISM) report.  It comes out at 10am and it is expected to show that U.S. manufacturing expanded in August for the first time in 18 months.  A reading above 50 would be good for the market.  Wall Street is expecting a reading of 50.5 in August, compared with 48.9 in July. Sirius XM (SIRI, $0.68, up $0.01) got its price target raised from $0.50 to $1.00, while maintaining a Hold rating.  Standard & Poor’s Equity Research raised their price target on the company and narrowed their 2009 loss estimate and sees a profit of $0.01/share in 2010. In addition, SIRIUS XM announced this morning that Volvo customers will receive an introductory 3-month trial subscription of the “SIRIUS Everything” package with the purchase of SIRIUS-equipped certified pre-owned Volvo vehicles sold in the U.S. Bank of America (BAC, $17.79, up $0.20) is getting a pop after it said it is looking to pay back some of the billions in federal bailout aid it has received. Not a bad start for the morning… Rick@MomentumOptionsTrading.com Note: We normally post our updates by 9:30am and by 1-2pm for the daily Blog.  The trade updates will be posted in the Members Area by 11pm (EST) nightly.  If there are any new trades or adjustments, it will communicated in the blog.]]>