CONDI ALERT

It looks like the markets are trying to reverse/bottom but I would be careful with the longs as the market internals still show an ugly 2,500 more red than green. I would look to better internals before I have a belief in a new rally and my gut is telling me to play the Alex Elder strategy and short the pullups.

The strongest sector is again the drug group with the CMR (consumer) sitting near the unchanged line. Worst of the rest are SOX, airlines, trannies, techs and brokers. WINTEL is in the green on the DJIA with HPQ BA HON and HD all the worst of the DJIA.

On another note, since this is my blog, I can rant about what I choose and today its the wars. Question, how can the government of the United States tell Israel or anyone else to be mindful of civilian collateral damage in Lebanon when the there have been about 100,000 civilian deaths in Iraq since the conflict started in 2003?

Other facts; about 2,500 U.S troop casualties in Iraq and about 40,000 wounded. Get that, 40,000 wounded when there are only 160,000 (yes they rotate) troops on the ground. The odds of escaping Iraq without any physical harm is not that high. Why do I have to do the math and why does the news media not focus on this when it reports news from the Middle East?