ML, i agree with you wholeheartedly; that was pretty much what i was implying. As i see it, fundies are at best not improving, yet bullishness, as i measure it, has just exceeded Dec/Jan levels, although we are roughly 5 to 6% lower in the averages! Point being, that while everything points to another top being put in, i'm not jumping with both feet but treading very cautiously. As such, my only shorts at present are medium sized positions in GM and COF. Since my strategy is to short the consumer, i'm also once again eye-balling the housing sector and will probably establish a position after tomorrows reports. The next few sessions s/b interesting to say the least. LEON
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