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Update

2/28/2012 11:48:33 AM

Here is a market update.

Sorry for the lack of an update this morning. This is a very dynamic market today, and as I was writing, the dollar futures moved down 60 cents in an hour testing lows.

That's a pretty sharp move, and a similar sharp move in bonds, suggests it will have to be absorbed into the markets. Contrary to it all is the action in oil.

As for the markets, the internals were actually bearish yesterday, on an up day. And today's action in Apple is causing a bit more upside on the nasdaq than nyse. Here's the S&P futures - This area is a line in the sand for us...

S&P Futures

Accordingly, I'll wait to near the close to make a decision on a position today.

Stay tuned.

Regards,

 

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