Finally a Sliver
14th January 2008
We finally got a sliver of good news this morning! IBM raised their guidance and the stock is trading up about 7 pre-market. This has the Dow futures up 100 pre-open. It should be an interesting week for the market because of a deluge of news. We will get inflation and retail sales figures delivered this week along with the Fed’s Beige Book.
With a sell signal in all of the major averages on the daily charts, all rallies should be used to reduce risk.
- BA