Wednesday, February 6, 2008

That Damm ISM

Futures were already lower yesterday,but when the ISM number was realeased,evidently the worst number since 2001,things became unhinged. The technicals confirmed the bad action as declines led advancers 26 to 5 on the Big Board and 23 to 6 on Nazzy and up/down volume was even worse-about 12-1 on the New York.
Futures look a little higher here but I am not getting too excited as I will be looking to short rallies as they present themselves I still like the shorts posted from yesterday CERN and CG as well as the two just posted.


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.