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Alphas Morning Market Summary

By: Great iota

                Overall, Today’s sentiment is bearish.  Everyone is expecting a sell off because of the recent bull rally.  The NAS is getting hit particularly hard because of Microsoft and Yahoo.  The Bears seem to have an upper hand this morning.

                The big news today is the Tech stocks dropping as a result of poor numbers from Microsoft.  All major networks and business news providers are having some story about it.     

                CNN top story is “How long can this rally last”, well, if that isn’t a sell signal, I don’t know what is.

                Google’s big story is about Cit Group Inc. cut is bond offer price to $775 per $1,000 bond from $800…wow, which is a nice return if you think Cit will make it.

                CNBC is still on yesterday’s news, with its top story as “Broad market rally”.

                Bloomberg has worthwhile articles on UKs economy, Bernanke views on rates and US Consumer Sentiment worth reading.

                Reuters top story in on “How greed is back”, jeez, another sell signal to me, people willing to overpay for things on fear that they will miss the big increase in price.  I’m still more worried about the affects of increasing unemployment will have on the overall economy to be greedy.

                Wall Street Journal good story is “UK GDP shrinks more than expected”

                The VIX move up 1.8% this morning is a sign of increasing risk.

                The USD is slightly down, up against the AUD and GBR but down Euro and JPY.

                Commodities are mostly pointing higher mostly due to inflation fears and the recent bullish sentiment.

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