09 March 2007

The Inside View

Internals continue positive despite the absolute mauling of pre-market buyers. Speculation alive though as takeover rumors all over the oil services sector (see NE, MUR) with the OIH up on a day that oil is down.

Nasdaq has 1704 advancers to 1177 decliners withe NYSE 2061-1062.
Up/down 55-37 on the Naz and 43-25 on the big board...I still think weakness kicks in through the afternoon and I will hopefully use that weakness to buy some upside protection to neutralise my short exposure...maybe some front month QQQQ $43 calls if they really crack them here...jfg.

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