3/10/2006
Mixed day today in the market, don't let the high dow suck you in thinking it is good time again. If the naz and sp500 had finished strong this week, I would have agreed we might have slowly reversed. Since these two index didn't moved higher, the weakness and negativity still lingers. Today, I daytraded sndk for +.20/share, it was weak throughout the whole day, and I didn't want to hold it over the weekend. All the top techs are starting to get very very weak, eig. (aapl mrl brcm sndk) while the dow continues to move up. Sooner or later the dow will follow suit and the mild fear level will turn extreme. Next week we have cpi and retail sales to move the market and not much in the earnings front.
Longs Cost Unrealized g/l:
dvn 60.11 -3.20/share
wfmi 65 -1.70/share
nbr 66.50 -2.60/share
anf 59.09 -2/share
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