Wednesday, August 31, 2011

One hour into the day....

Kind of a strange tape.  Stock indexes are higher, but traders are clearly taking profits in some of the stocks that have made big moves of late.  That kind makes me a little wary of this move.  Let's see what happens as the day wears on.  Here's where we are now:

Dow +116
Nas +31
S&P +15 to 1228

The key for the S&P 500 is that it remain above the 1200 level.

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