300 AGAIN!

Assuming an uptrend in the overall market will take us back to 300 today at some point today. It could even happen at the open. Remember this is an important level and do not be surprised if it a difficult wall to get through. However if we do break through decisively then there is nothing really to stop us from getting back to 340 which of course would be all time highs. A lofty goal perhaps but who among us ever thought we'd get back to 200 after seeing 150.

Copano is selling 6 million shares and the market is selling Copano (CPNO) by about a dollar on the dilution of the secondary. The money raised will be used to pay down debt. Otherwise the premarket is quiet and the newsfront this morning is rather lacking. Nothing of note on the upgrade downgrade list.

Overal Markets are flat but showing a little firmness on a less negative ADP employment number. Energy numbers for oil due out at 10:30am. Dollar a little lower this morning which is supportive and rates are a little higher. Not much else happening this morning so we'll bring on the open as i stare out the window and watch another snowfall!