Tuesday, November 28, 2006

 

Closing Comments

Thanks to the tenacious dip buyer, all indices closed higher. However, I am not getting too excited, considering it was only a 0.3% move in the S&P.

Also, I really like the action in the oil/gas stocks, especially ahead of the expected cold front heading towards NYC.

Bottom line: We bounced today, but didn't poleaxe the sellers. My guess is for decisive direction by the end of the week. Until then, I will not short any stocks in size.

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