Tuesday, June 13, 2006

Failed open?

Looks like another failed rally open for the markets today. I don't really feel the setup is there to go short, however - in retrospect that ship sailed yesterday. Today the duration of the position would only be intraday due to the need to go flat prior to tomorrow's closely watched CPI numbers.

On the flip side I definitely think we are doomed for another late day slide again as traders remain overly cautious going into tomorrow's big number.


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