It seems that choppy trading will continue for few more weeks. Yesterday, Dow went up by 203 points after positive report from Cisco. In an earnings conference call on Wednesday, Cisco CEO John Chambers said a recovery “is well underway” and added that economic improvements were “gaining momentum” world-wide. He predicted Cisco’s year-over-year revenue would grow in the current quarter after a year of declines.

Today, Labor department said that U.S. unemployment rose by more than expected in October to hit its highest level in more than 26 years and employers cut more jobs than forecast. The unemployment rate, calculated using a survey of households as opposed to companies, rose by 0.4 percentage point to 10.2%. Economists’ expectation was 9.9%. Dow is down by 61 points few minutes after the market open. Traders are going to take profits they made yesterday just to make sure they don’t hold any positions over the weekend. As always, trade wisely!