Daily Murmur 07/04/11

by Gary Glover

 Although the broader market has finished higher 14 out of the last 16 trading days I do think this stretched market can stretch a little bit further.  I expect the market to mark 4 weeks up which will take us into next week some time.  Hard to find value across the board here but at the same time its not quite ready to pullback yet either.  I’ll be writing covered calls over the blue chips here as it continues to stretch to the top of the recent trading ranges.

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