Monday, July 28, 2008

Midday Update

The market has fallen off strongly with the financials leading the way. LO continues to hold strong but there is no upside to the trade right now. BNI has come back and looks decent based on a short term mean reversion trade and a relative strength basis. Otherwise, nothing seems to be able to push to new highs at the overall tone is negative. Oil's still weak, but I'm not touching it short or long yet.

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