THE MAN

Markets open higher with some notable resistance sitting in the windshield-

August 11 High- 1313;

August 18 High- 1300

August 22 High- 1293;

NYSE- 930 net winners;

NAZ- 415 net winners;

NDX- 85 GREEN;

OEX-85 GREEN;

IBD- 70 GREEN;

VIX- down 1.5% at/near 19.5 and only about 4% below the SMA 10;

And some notable commentary this morning from Kramer in a column titled- "Lows of July 15 Are Becoming a Memory"- my take from this article in the last paragraph:

"The companies on the brink -- WaMu (WM) , Fannie (FNM) and Freddie (FRE) , Citigroup (C) , AIG (AIG) , Lehman (LEH) , Ford (F) and GM (GM) -- are still on the brink, but the more days that go by without outright chaos are days that they can trick their way into getting more capital or forbearance, and July 15 will be a bottom for them as well as for so many others, from oil users to retailers to incredibly resilient housing stocks."

Not sure why a guy who has been watching the markets for the amount of time he has doesn't remember that these things don't go in a straight line- check the chart of the XLF - it doesn't go straight down- and no doubt if these stocks reverse and head lower it will be like he never wrote this column. Great service to the readership.