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Wednesday, April 25, 2007

Nasdaq Composite

Forget the stupid Dow 13000 hype, this is the index to watch right now. Amazing strength after lagging for much of the recent rally. The NDX is showing even better strength. The Russell 2000, however, is still relatively weak. Today's strongest sector was energy, strongest industry oil services.

Where do we go from here? At this point, I am cautiously long. The fundamentals of this market and the economy are horrible, but stock buybacks and leveraged buyouts will continue to push this up (but only for so long).

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