7.20.2009

THE USUAL


Here we go with the usual -good earnings numbers are moving the futures higher yet again - leading the earnings parade CAT +9.4% and MRK/DD both up about 2.5% in the pre markets.


ES +3.25;

NQ +3;

YM +38;


Of course it is also turnaround Tuesday - so careful as market are even more overbought with RSI 2 levels at/near 100 on most major indexes- IT WILL NOT CONTINUE at those levels- I don't think- (it won't).



Some good links:


Dr. Brett on the laggards;


BAC with more stuff to come;


Dougie with some surprise updates;


7 reasons housing isn't bottoming;


Some good news on high yield spreads;


Winners and losers in the world of employment;


NAZ going for 10 days in a row;


BTW- I have some QQQQ's and some UWM all going to be sold today - no matter what- can always buy back and intend to buy back AT LOWER PRICES.


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