3.13.2006

STOP TRADING TIME


It is time to stop trading and listen to Cramer tell us what we should be watching. I can tell you that Merger Monday has been a big dissapointment to the street as the DJIA is red and the other major market indexes are mixed. The only sectors with any juice today are the oils and the metals. The internals, which started the day with 2,400 more upsiders has dripped to only 500 green. Very unimpressive. The SPY which I anticipated would get back over 129 only made it to 128.96. There is significant resistance overhead and I think the markets are better to sell than to buy. FWIW, Jimmy is perplexed that the market can't move higher in light of all the Merger Madness. May I suggest to Jimmy that he do a little technical analysis to find that we are right under significant resistance and rates are rising. Seems to me for now when markets go up they get sold and when they go down they get bought. Hmmmmm.

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