Early Weakness

Europe is lower and Japan closed at a 26 year low. The banks are the problem again in London and Merck is making a bid for Schering- Plough. 99% of NYSE listed stocks are at or below their 200 day moving averages according to Marketwatch, what a statistic.

I’m playing it very carefully today (as usual) and will be watching with great interest for a possible turn. My friend Brian Shannon has been doing some great work over on his blog Alphatrends if you trade or invest he is a much read/watch. I have put his site on the “idea flow” section of the blog as well.

Also, please let me know if you didn’t receive my newsletter last night, I had some Internet connection problems in my neck of the woods yesterday and I want to make sure it went out to everyone who subscribes. It also gets fed to twitter so you can find it there. Thanks guys and have a profitable day.