Everyone waits for Friday:

Investors are all waiting for the Jobs report which is due at 8:30 Friday morning. I would expect to see a relatively small number on Friday somewhere around 100,000 new jobs for the month of July.

Teck has increased its offer for Inco to $82.50 per share and has added a second option which is a combination of stock and cash. This option is $40.00 cash plus 0.5821 of a Teck share, the original offer of 1.1293 Teck shares plus a nickel for each Inco share is still on the table.

This new Teck offer has increased speculation that more bidders will develop to compete with both Teck Cominco and Phelps Dodge for Inco. Inco shares are currently trading over $86.00. I would be tempted to sell Inco as the current price is well ahead of any previously mentioned valuations.

A small Canadian brewer Sleeman Breweries (ALE-T) has been put up for sale and they are expecting at least four bidders will compete for the company. This could be a very interesting speculation and has the potential to move higher over the short term as investors get positioned for the bidding war to develop.


For more information go to www.campbellreport.com