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A Pretty Petty

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Terrapin Station, Baby!

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Gonna stand my ground, won't be turned around
And I'll keep this world from draggin' me down
Gonna stand my ground and I won't back down

(Tom Petty)

I'll tell ya, that Hoofy is one stubborn bull as he continues to defend these levels. It's worth noting, for all you moving average mavens, that the 50-day M.A in the Dow Jones and SPX are in and around here and I know that some traders are chatting that up. I don't key off them, per se, but you always want to know what other traders are thinking and now, my friends, you do.

I've got more meetings than a Lifestyle convention today and the bell is about to toll for my 1pm conference call. Before I jump into my office, however, I wanted to bring your attention to the financials as they're starting to perk up. In a slow, thin tape such as this, you've got to be extra careful for sparks in a dry forest and the brokers may match up well with that analogy. Before you get too excited, however, let's see how the S&P trades after it fills this morning's gap (around 902).

Remind me to tell Casey that we need to develop some critters that can practice law in Minyanville. I think sharks would be fitting, don't you? (Sorry Len!)

Gotta hop!

R.P

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