Markets are closed Monday, but Globex is trading and Europe just drove NQ up to a gap close. Any doubts that bulls are still in charge have quickly dissipated. What SNDK warning? We will probably pull back at the close of trading, but the action tells you that bulls are chomping at the bit and they want Nasdaq 2500 in their rear view mirror as soon as possible. More merger news is fueling the buying, including talks of GM acquiring Chrysler. Getting rid of that dog is good news for Daimler, but I'm not so sure it is for GM. A lousy car company buying another lousy car company. At least Daimler saw the light. Who knows how they will spin it on Tuesday.
Crude is dropping so I'm not sure the ES rally will hold at highs. Keep in mind that these shortened session bids often reverse to the mean by the close.
I'll be in Europe from Feb 25 to Mar 8 and I will enjoy trading the US overnight session with my breakfast.
Crude is dropping so I'm not sure the ES rally will hold at highs. Keep in mind that these shortened session bids often reverse to the mean by the close.
I'll be in Europe from Feb 25 to Mar 8 and I will enjoy trading the US overnight session with my breakfast.
This entry was posted
on Monday, February 19, 2007 at 2/19/2007 04:22:00 AM.
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