14 February 2007

Where's My Correction?

Equity futures positive this morning with Applied Materials (AMAT:Nasdaq) providing a boost with their earnings beat. MBA's weekly mortgage application index rose 1.5% for the week ending February 9 and was up 10.9% compared with the same week one year earlier. Retail sales were flat in January. Forecasts had looked for a 0.3% increase.
Naz futures still struggling with the 1800 level...So, as usual, a lot of push and pull here...I'll probably try to fade, again, any moves into 1805 depending on the morning internals and volume levels...we'll see what happens...just not convinced the bulls can retake charge here...jfg.

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