Friday, September 25, 2009

Early Action (not so grimm)

Internals have improved to flat-to-slightly-positive early today, following the gap down to the area of yesterday's lows.

So far a victory for the bulls, but it does not yet confirm any new pivot higher. I've adjusted to slightly net-long here; 49% invested overall; pure-longs = 29%.

Leader AAPL shaking off the RIMM blow-up speaks rather positively. Besides what is says for AAPL itself, if it holds up it is a bellwether-positive for growth technology as a whole.

Bears are not back in the woods yet, but they cannot be comfortable sipping coffee here downtown.

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