You gotta like those who stick by their calls. The Cramer vs. Kass standoff is very interesting to watch. I am very nervous being in the Cramer camp and I could switch sides on any 15 minute bar from now. At 4:30 am this morning I became very bullish for today’s open at 4:30am this morning, not so bullish last Friday, then I thought we were going to get a gap down in the am. I was only off in the direction by a little. It was a long weekend.
In the TTTHedge.com trading room Tom called an all in after the open and I more than covered my shorts so all is good.
The NYSE 52 week highs continue to pile on like waves in a rising tide as does the Nasdaq highs, but.. the Russell what is going on here?
The NYSE new highs are reaching to the same heights as the last index highs, the NQs are weaker and the Russell is a little runt. We need to see some strength in the RUT if we are going to carry ahead here.
So tomorrow we will watch and see if the Russell can gain any ground here. Three trading days in a row it has been the laggard on the A/D line.
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