5/31/06
ATR - End of the Day and I'm bushed

Despite the build up the FOMC meeting minutes garnered a rather mild reaction. Yes the tone was a bit more hawkish than the prior meeting but recent comments from Fed members had already telegraphed that to a great degree. The indices were slightly higher but underlying breath was quite good. Oil reversed to the upside after a weak start and gold remained negative all day. The semiconductors lead to the upside today which is a refreshing change and it looks like the group now has a little underlying support. All things considered it was a somewhat productive day. The FOMC minutes didn't kill us and we managed to tick up a bit after some particularly harsh selling yesterday. The buyers are definitely not falling over each other in a rush to buy but we are holding and have at least of chance of finding some support.

Have a good evening. Ill see you tomorrow.

RevShark