MARKET RECAP

Stocks drifted along today without any clear direction. Looks to me like the markets are still digesting yesterdays gains.The Dow finished in the green which is a good sign for the bulls while the Nasdaq was off a few points. The S&P 500 was also fractionally down. Motorola's dismal outlook was the major factor in keeping the Nasdaq down.The midcaps and the oil sector lead the way while banking and housing were weak.

The 'Godfather' of private equity, the Blackstone Group is going public. Sign of a market top ?

Palm got crushed today after analysts rejected buyout rumors. I happen to think Palm will do well in the coming years. Their new Treo is an impressive device and should help sales tremendously.

More buyout rumors. This time its Rackable the maker of a sleek brand of servers. The stock is trading not too far from its IPO price from 2 years ago. A price below $20 reflects a bargain in my assessment. Its also a heavily shorted stock which can cause it to rocket upwards.

Big wall street firms are battling to save their intellectual property. Their "research is ``in the throes of being Napsterized"