*For shorties only...get ready friends...here's why:
2:18 (Dow Jones) Another sign that a retest of September lows could be
coming, this time from Salomon's William Julian: small-caps would be performing
better than they are if Sept. 21 had marked a bottom. Since Sept. 11, the
Russell 2000 has underperformed the S&P 500 by 200 basis points. "Following
past bear markets that bottomed during a recession, small-caps have almost
always outperformed immediately," he says. (TG)
2:01 (Dow Jones) The short covering in stock futures is mostly done at this
point, says Justice Litle, a senior economist with Commodity.com. "It's folks
who are coming off of the sidelines now...looking for a reason to be bullish
and committing capital." (CMN)
1:51 (Dow Jones) Latest rally in stocks feels good for bulls, but don't look
for Nasdaq Comp to move above 1820, says Spencer Clarke technician Jason
Hunter. His technical indicators suggest that Nasdaq Comp is getting ready to
roll over, and he looks for a 50% retracement from September lows, to about
1590. If retracement exceeds the 1540 level, then break of September low of
1387 becomes likely scenario. Even if Comp can rally to 1950-2000 area, a big
pullback from there is in store, he says. (TG) |
