kaltbaum premarket
Small change this morning…RAX is a little too far out…and needs some pulling in. The best play is pullbacks after yesterday’s gap but not sure you get much. Last year, market gapped up 1st day and went up for the whole first quarter before topping out.
Bottom line, you have to go with the evidence at hand…if it doesn’t work, it doesn’t work…but the nyse,russell,china,japan, a bunch of europe, financials,transports all break out…and not seeing a lot of bullish reports. Mostly, if you read the paper, they say….great day in the market but caution as there are more budget issues…or crap like that.