PERFECTLY PRICED

Markets moving on up again but seem to be leaving the average stock behind as the DJIA is +100, NAZ +21 and SPX +8.5.





Problem - check the market internals as there a net of 100 green on the NYSE and 350 green on the NAZ- DOESN'T pass the smell test.





Sector strength in steel, shipping, trannies and oils while gaming, brokers, telecom and banks lag.





Comment by Dylan this AM on why the bad news isn't all priced in to the financials- well LEH was $16 a week or so ago and BOVE was pushing for a sale of Neuberger and a $10B price - and a $20 target on LEH once the deal got done- didn't excactly work out that way and the bad news clearly wasn't in the stock.

Taking a few days out at the beach and will be back on Monday- good trading and don't keep the trades on for too long either way.