1:00pm (EST) Costco Wholesale (COST, $55.00, up $4.35) is rolling today after reporting better-than-expected same store sales for August. The 8% jump can also be attributed to a JPMorgan (JPM, $42.07, up $1.21) upgrade from “Neutral” to “Overweight”. JP also raised their price target for the stock from from $45 to $59. Costco said comparable sales for August were down 2% which was better than Wall Street’s expectations of a 5.7% drop. US sales were down 4% but International sales were up 3%. Of course, all of this is second fiddle as Wall Street braces for the unemployment numbers tomorrow. We are pretty much 50/50. A good reading could send the markets soaring but buying will probably trail off as we traders head out for the long weekend. However, if we get a nasty print, then the bears could be out in force when the opening bell rings. Rick@MomentumOptionsTrading.com]]>