The Daily Dose of Trading Comments

It's end of month again and the levitate/consolidate type action is in full force. So far it's acting typical; more like a consolidation before a continuation and that may in fact be what's happening. I've yet to change my thesis targets which are still higher because this trend higher could still make another bolt northward before it's over.

At the same time, I've discussed here the need for caution and patience as the end is nearer than the beginning in my opinion. I may be fighting the obvious and could thus be throwing away the opportunity to embrace and prosper but as I've felt all along, there are too many warning clouds for me to stoop to that thinking. Maybe it's just my philosophical nature that forces me to doubt.

We have the DJIA looking stronger on BA earnings this morning yet I see the financials lagging badly preopening. Chips also look a bit weak early. Durable goods just hit and bumped us higher on higher than expected orders. As with a lot of these numbers, it's rather volatile and hard to read month to month but it does move the market when it hits.

The intraday bias the last couple of days has proved negative. We have witnessed to consecutive days of weak closes. What will today provide ... we will see.