PRE OPEN THOUGHTS

Markets look set to open higher with DJIA Futures trading at 12,151, or about 100 points off of yesterday's lows. SPX Futures up 4 and NDX+7.5.

The typical trade on days like this is to fade but my strategy will be a different, if we do pullback a bit and other "tells" look bullish I will be buying as I suspect lots of underinvested folks are going to want to jump aboard. The biggest fear of all is probably the fear of underperforming and now a chance to get on board with the beginning of the month money and the strong November December months, why not.

Interesting how now the media is fixated on the John Kerry flap about under achievers ending up in Iraq when the real story is probably "how in the world did we let the AK-47's and various other small arms (14,000) go missing in Iraq and probably get in the hands of the insurgents."