Thursday, April 19, 2007

Market Close: 04.19.07

There so much focus on the Dow, it would be easy to overlook that the underlying data is none too positive. Note the advance/decline volume.

I'm still not sure that I understand CSX's strength yesterday. The 'grab' headline is that they had pricing power, but their volumes were low. Based on my understanding of business, when your volume is low, pricing power doesn't have much steam. Seems to be a transient 'good' news item. But, what do I know?

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