The powers that be are cuing the breathless up 8 point pre market action in the SPUZ, gotta have gotta have em. AIG is leaping by 4 bucks or so in the early,early goings - just wait till Etrade and Scwhab open up there pipes in 6 minutes.....
I guess overnight the dollar is being monkeyhammered again - why not? This reflexive buying of everything when the dollar declines seems insane to me and a scary pattern.
So the SPUZ are holding in around 1067 - I believe we get an earnings report from one of the beta kings - RIMM, in the next few days. I have prepared the markets repsonse in advance, here are your scenarios
1)If numbers are good - nasdaq will trade up 2%, Wall St. will pen a report about how the unemployed are using smart phones to console themselves and make themselves feel as if they are still in the game
2)If numbers are bad - nasdaq will rally 1.5%, Wall St. will say that AAPl and PALM are taking market share from RIMM and PALM will gun to new highs on the heels of its 16 million share equity offering
Have a great day
JB
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