Wednesday, August 1, 2007

Stock Market In A Coma

If you're trading stocks today, watch your ass.

As we move into the middle of the day we are caught in a nasty range. Every time to market dips just below the range, every bear in the world gets short while every bull says, "bargain!" and buys. Every time we peek above the range, the opposite happens.

This is leading to a chop fest on the futures and in stocks. However, if you look at the futures graph, it just looks like a flat line. Market in a coma, I know, I know, it's serious.

Clarence has once again left the building. I expect him to return for the afternoon.

Carry on.

FLASH: There is a fairly feeble attempt to rally the market. However, despite the completely wrecked mortgage stocks, I cannot find much rallying. The AD is still weak. I think we'll have to wait until the afternoon to see if this holds.

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