07 February 2007

...The World Says Hello.

Good morning everyone...A cool 43 degrees here in Vero Beach...but like the markets, of late, it looks to hit the low 70's sometime this afternoon...The last two sessions on the E-mini S&P have given almost precisely the same high-low-close...could it happen for a third day?
Economic reports lite today with MBA purchase apps already out and some productivity numbers due at 8:30...Petrol reports at 10:30...CSCO reports what JC clarifies as "...a thing of beauty". So futures on the Naz plus 5 as I type...Earnings on tap for today include Bank of America (BAC:NYSE) and Disney (DIS:NYSE).
Bears cannot seem to get any traction as any and all dips, no matter how minor, are bought...It feels to me that the market is putting in a complicated top that may take a while...therefore even though I may have stated goals for certain trades, be them long or short, I am reeling them in quickly...I'd like to hold onto them longer but in this choppy enviroment, I prefer to be in cash more often...see you out there...jfg.

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