Thursday, August 03, 2006


The three sisters finished the last hour in the red. Probably going to be a tough day tomorrow. I had IR and PWR (again) and made a good run on both of them. Totally flat again. Way to be going into unemployment report day. I don't know what that will show but I'm sure the market will react to it.

The up/down ratio is at 52% which is neutral however the new 20-day highs printed 761 and the lows 254. Bodes ill. VIX however is back below 5%.

With all of these contrary signals I think we see the market goes sideways tomorrow unless someone can make a case for the Fed ending the rate hikes in August off the job numbers.

Stay tuned - it doesn't get much better than this.

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