20 March 2007

Like An Old Man Returning Soup At A Deli

Today was one of those days where the observations of casual market watchers about how good the market must have been tend to irritate and frustrate active market players. - Rev Shark (RealMoney.com)

The team at YukTraderStation couldn't agree more. That's all I heard after the close yesterday was how strong the market must have been. You just have to agree with them..."Yup, strong market." Fortunately, we know better. The trade yesterday was an absolute bore but we stuck to our bias and grinded out 9+ points which I felt was a true victory given the circumstances. The market did get some work done as we see the NDX kissed the dropping 20 MA, an important development...but enough on the past...it is the future we must deal with.

The overnight kids just doing a little tossing and turning with the $5 Dow down 21, the E-mini S&P -2 and the nettlesome Naz -2.75. Nikkei up almost 1% with European bourses down across the board anywhere from -.3 to -.5%. Currencies flat with the exception of the pound up .6% vs. the dollar. Gold still sitting at the important pivot of $655 with bonds up .o1%. Oil futures have rolled into the May contract and therefore regained their familiar $60 handle...can't wait to hear about that on CNBStupid.

I'll be back with today's trade ideas...jfg.

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