11 April 2007

Bait And Switch

So the bulls continue to show the green day in and day out...Dow up 8 days in a row or something like that...no real concern to us...subprime, geopolitical tensions, lack of capex, backdating, dollar crumbling ...doesn't matter, everything is fine...go shopping!
Frustrating trade yesterday as the range just tightens and tightens until something has to give... lack of data points has frozen movement and that ends today with the 2pm release of the FMOC minutes...more eco numbers on the way the rest of the week as well so that should be the catalyst for an actual TREND...pressed for an answer I'd venture we start heading south but that's not our game here...we try to minimize risk and pick off the points the market gives us...honestly if I were you I'd stay on the sidelines today and with that in mind I'll be cutting my position size down by half and getting out of the market should we not be on the right side of the things come two o'clock...be back with some ideas before then...jfg

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