02 April 2007

Shiny New Quarter

We've got a short week to start off the Q207...and with that in mind we might get a ramp up that sticks with lite volume and indications that all is well and positive positioning before earning start to hit next week...the "in the know" crowd might well be cooing as oil prices back off in anticipation of an "Easter Return" for the misplaced British sailors and bottom callers sing their tune in housing...so careful here pushing the downside...we might tap into 1780 but I'm not expecting it and it should probably be bought...so we want to stay flexible and stand aside in the early going watching news flow (ISM numbers due 10 a.m.) and breadth carefully...I expect a wider range to narrow as the week unfolds...today should clue us in as to where that range will settle...will it be more 1770-1790 or 1790-1820?

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