kaltbaum email

I am not thrilled that we saw some distribution last week..but no biggie. I am not thrilled that we saw distribution into the strong early action today…but no biggie. I am not thrilled when the dow leads and the nasdaq lags like we have seen recently…but no biggie. BUT…if more distribution shows up…

Today…a few names tried to break out like GWW,DHR,EL and a few others…but most tucked their head in. A recent service pick was EL…and if the market finds a bid in here, think it will work and the service will put back on.

I just think taking a step back is not a bad thing here. Need to see some cards come out of the deck. Not saying anything bad…just that churning and distribution must be watched. See you in the A.M.