Friday, March 04, 2005

Midday Friday: DJIA +85.72 SPX +10.27

Relatively sunny outside. Nortel(NT) near term price magnetism(10 EMA) around 2.90. I would sell a break as an evening star is slightly pregnant, but the major indices are too strong on nonfarm payrolls which posted 262,000 new phantom jobs created in February. My back is aching, and I will avoid churning yawning markets.

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