After a huge rally yesterday the futures this morning were down a whopping 4 points which as soon as the regular session casino opened was seen as a great entry point and the market promlty rallied, we have since reversed those gains and see the down down less than 1 point. narrow, narrow ranges. Priceline is up an eyepopping $31 dollars - or %18 today - they had good earnings I guess. It opened up $20 and then just chughed higher - it appears that this is a heavily shorted name.....Who buys a stock that opens up 20 and expects to make money?? I guess smart people.
I was informed by my Dad that Ken Fisher expects the S&P to get to 1300 by February - I guess that most certainly could happen but lets just consider the source this is a guy who runs a long stock portfolio, who writes in Forbes periodically and is considered by many to be a permabull.
his point of view is about the most bullish I have heard.
Anyway - today was a real snoozer - the decrease in volatility of the indeces today was surprising to me.
later
JB
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