Monday, November 27, 2006

And Down Comes the Hammer

Virtually everything got hit hard this morning as sellers came in and pushed the market downward. All three major averages are in the red and have been torn apart as the DJIA is down 135, the NASDAQ down 44 and the S&P down 15. Trading could get worse tomorrow as those who have profits seek to protect them. This is definately a spot where I'd keep both eyes open.

Two more things: WAG is getting very close to where I'd pull the trigger. It should hit support right around 40. If buyers don't materialize pretty quickly or if that level broke signficantly I'd be out of there in a flash.

USG is coming down again. I'd watch 47.20 for support.

CM

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