RECAP

The major indices closed higher on very light volume. The markets are closed tomorrow and as expected there were no fireworks today.

Kerkorians Tracinda group is offering to buy Chrysler from DaimlerChrysler AG for $4.5 billion. Kirk is 89 years old and at his advanced age I wonder if he still calling the shots ? And does his bid for Chrysler mean he's through with GM ?

The Euro has moved to 2 year highs against the US Dollar. There is talk of a huge inverted head and shoulder formation that could take the Euro to 1.45 and beyond. Long FXE.

The Dow has been up 6 consecutive days. The last 6 day up streak was in November just prior to that 180 point down day.

The casino capital of the world. No its not Vegas.

Here is a great tool that can track the correlation of various positions in your portfolio.


Looking at the week ahead here are some of my thoughts

• Volume will return in a big way after this holiday shortened week
• Bullish sentiment will be high next week which will probably lead to some downside
• Employment numbers are out tomorrow and it will likely move the market significantly
• Who will private equity buyout next week ?
• As the indices close in on the point prior to the Feb 27th plunge, alot of market participants have already forgotten about Black Tuesday.