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Apr 2, 2007 - Issue #052

So Far, So Good!

DJ-30: 12354.35 -126.66 -1.01%. In the Real World: 51.40 -0.53 -1.02%.

UP: 4 (-25), Down: 25 (+25), N/C: 1 (n/c).

Trends (weekly): This is the subjective part.

Rising 10 (+2):

AA, +*AIG, DIS, HON, +*IBM, KO, MO, T, UTX, +*XOM.

Consolidating 18 (-2):

AXP, -*BA, C, CAT, DD, GE, GM, HD, HPQ, JPM, MCD, MMM, MRK, MSFT, PFE, PG, VZ, WMT.

Declining 2 (nc):

INTC, JNJ.

+/- denotes change of direction.

* denotes change of category.

So Far, So Good!

The market pulled back, apparently in search of the "floor" mentioned last week. It appears to have found it. So far, so good. We should know the answer this week. It's like watching someone working their way through a mine field. It's intense. Much is at stake on the outcome. What happens in Iran is key. Which is to say, OIL!

Ever since the invention of the internal combustion engine, every war that has ever been fought has been fought over oil. Nothing has changed.