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Thursday, November 4, 2010

Thursday Morning Update

I have a hopelessly bad connection this morning, so until I can get somewhere else I probably won't be doing much posting, but I did want to at least get the earnings rundown, since we have about a million stocks reporting this morning. From last night: IPI down 1%, KS up 4.5%, MELI down 4.7%. From this morning: BOFI up 3%, ENG down 6.5%, EZPW up 1.2%, FSYS down 10%, GPOR up 1.5%, KID up 3.9%, MAIL down 6%, MED up 2%, WNR up 4%.  I have 669 new highs so far, but charts are taking so long to load it will take me forever to pick out the breakouts. This morning we had our normal Thursday unemployment claims numbers, which aren't changing, but with the latest helicopter drop the market doesn;t care. I can't get a decent chart, but I did see we broke through 1200 easily, and it looks likely that 1220 is the next target. They say "don't fight the Fed", a saying I never believed in, but one thing you can;t fight is the printing press.

I will try to get somewhere esle today, but that may not be until after the close. Regular readers know I am still waiting for the birth of my grand-daughter, so even with a good connection posting will probably not be as frequent as usual.

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