1:20pm (EST) The market is trending lower today although the bulls were out early.  The Dow is currently down 49 points to 9,578 while the Nasdaq is off by 12 to 2,072.  The S&P 500 is lower by 5 points and stands at 1,039.  Although stocks are struggling, gold is back over $1,000 and has managed to make its way to a fresh high of $1,010/ ounce for the year. FedEx (FDX, $77.26, up $4.60) is up 6% after raising its earnings forecast.  I had mentioned earlier in the week that this is “pre-earnings” announcement season and the company said it now expects to earn of $0.58/ share.  FedEx had previously predicted earnings of $0.30-$0.45/ share.  Wall Street had been looking for a profit of $0.44/ share.  Although international revenues are improving, the company is getting better numbers thru cost cutting. I’ll be back Sunday night with the Weekly Wrap.  Oh, don’t forget to thank a Vet today and take 60 seconds to remember our lost brothers and sisters for 9/11…. Subscribers, please check the Members Area for a 1:20pm trade update! Rick@MomentumOptionsTrading.com]]>