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From: Rarebird	11/15/2006 9:22:29 AM
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Market Fragments: Yesterday's rally was probably based upon option sellers wiping out the remainder of put option premium after last week's dip to wipe out call premium. Many of the indices are now at new all time highs. This is likely the final leg of the rally. I was looking for an orderly consolidation before the final leg up. Insiders continue to sell the Dow Futures. The Bond Market continues to see a recession dead ahead. However, the Federal Reserve Temporary Repo balance is still relatively healthy so a recession has not started yet. The most recent downturn in Copper is an ominous sign for the economy. But some commodities will do well, such as Gold and Crude Oil. Even if the US economy enters a recession, crude oil should rally considerably from these levels based on world demand for oil. The Gold Miners (GDX) and Crude Oil (USO) are intermediate term buy and holds here. Just buy the short term dips. This is a ground floor profit opportunity. Buy low, sell high. Don't chase this stock market rally. It will not end well.

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