Equity Market Comment - 4/3/2008

A rather directionless day today in quite a tight range.

It really was not even a good day for daytrading as the moves were very hard to gague and the consolidations were very unpredictable.

I did get a signal to buy Put options for the 3 day cycle account and that was done at the close today. I purchased the April 138 puts at 2.80.

Take a look also at the hourly chart below and you can see that the odds are really starting to favor a pullback of some sorts.

Really no change in my equity market opinion as we continue to wait in order to increase our exposure to stocks.