9/27/2010 premarket

Morning folks…futures are slightly positive amid some new M&A activity.  Oil holding strong here in the 76s and Nat Gas taking a big whacking this morning down nearly 3%. Other than a couple minor manufacturing reports today most of the economic data will set to release in the latter part of the.  the expecations for them are already incredibly low.
we’ve put a lot of cash to work this past week or 2 so if your holding lot of stocks keep moving those stops up.
 Levels to watch:
Last weeks high SPX 1148
SPX 1150 (large resistance level) everone is watching that level for a break since that can send us straight to 1175
Support: 1131-1117 zone (prior longterm resistance zone to the 200dma)

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