Wednesday, July 15, 2009

All Star break

Sell them now. 925-930 SPX should be resistance here, although with expiration in 2 days, we could see a real short squeeze. 5% in a week baby, that's what we like. Longer term still bullish, but we will most definitely retest the 905-910 gap from this morning. Tech's leading the way, with telecom the laggard of that group.

Interest rates, currencies and commodities pretty volatile here. Seems the real battle is being done in that arena. Stocks waiting for the global economy to pull us out of the abyss. Summertime trading is wet and wild, be careful out there.

Merger activity small, as NRG still interesting.

Peace out.

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