Short-Covering Rally Was Pretty Lame

DaBoyz put the squeeze on shorts once again yesterday, mainly because the news from Iraq over the weekend had not taken a turn for the worse. Under the circumstances, however, we might have expected the Masters of the Universe to milk more than a 5-point Dow rally from a quiet tape. This game will be a little more difficult to play on a Tuesday, absent the pent-up buying orders that typically accompany a Monday opening when the news isn’t so bad. If short sellers are still skittish, however, the outcome could be another draw.