27 March 2007

Under The Hood

So far so good...with our bias for a slow drip lower proving to be the case...we are hanging just on/under that 1810 pivot and I don't think it will take much to dive down into yesterday's lows just above 1790...we'll be looking to cover there.
Internals pretty ugly with breadth still more than 2 to 1 negative and up/down volume especially bearish on the big board at 4 to 1 to the red. Volume levels still pretty pathetic so the doldrums could set in.
I'm looking at bonds here to see if they finish weak...that could lead to some sympathy selling in equities...Moving my stop down to 1818, not willing to take any significant losses today...jfg.

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