Good Thursday morning.
Another start at new alltime highs although we did sell off a bit in the last hour yesterday. The chart is in breakout mode and I continue to believe that we are at the beginning of a move here that will take us to 300 or higher. Meanwhile if you tried to buy Regency Partners (RGNC) on the Wachovia downgrade yesterday and laid your orders at the 34 and 55 day moving averages you may have gotten executed around 3:20pm when the bottom fell out for about 2 minutes only to bounce back to 26.50 at the close for a 1 point plus gain. One had to be patient and nimble to pull this trade off.

Meanwhile this morning Markwest Energy (MWE) files a mixed securities shelf...details to follow when a link appears. No other news but its very early this morning. CPI coming out later. Energy complex is higher this morning as we wait for nat gas numbers. Stock futures flat to soft.
Nothing yet on the upgrade downgrade list.