The market bounced a little on Wednesday in the face of some pretty horrific economic news (Durable Goods and New Home Sales). And at the open on Thursday it extended the run after a mildly positive weekly Jobless Claims report. Yes, 473,000 new jobs lost is better than 495,000 expected. But it’s still above the average for the year, and the trend is headed in the wrong direction.

Now with all that said, the market is now see-sawing around the breakeven market. That is because tomorrow brings a triple header of important economic news that could move the market in either direction.

Even if Friday provides a little bounce I suspect the risk is to the downside given the heavy pessimism in the air. So traders should look to shore up shorts on any bounces. Take your pick of ETF’s like

,

or

to make that happen.

Long-term investors should consider putting some more insurance in their portfolio with these ETF’s, then look for places to get long again under 10,000. Your portfolio should have a healthy combo of conservative dividend plays like and aggressive growth picks with upside potential. Some current favorites include

(

) and

(

).

Friday’s reports will have a lot of sway on the next move for the market. Get ready.

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