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Autos and Greece Rev up the Bulls

Automakers F and GM increased sales results, with F beating GM and Toyota.  The positive reports were primarily due to "fleet" sales with 74% of F sales going to businesses.

The markets pushed higher on positive expectation that Greece will find help among its EU members, but the positive push stalled at the days end only in slightly positive territory.

The White House is suggesting that the weather is at fault for what may be disappointing employment data later this week and not to read a negative into what they see as a positive employment trend.  Seems to me that the Administration is trying to get ahead of bad news by lowering expectations.  What happened to President Obama's promise to push job creation?  The fist quarter for 2010 is about over and all we find is a lack of any effort to stimulate small business and job creation.  No, I'm not ignoring the "jobs" bill that the Senate passed with Scott Brown voting for it.  It simply a non-factor in real jobs creation.

Summary:  Nothing has changed in the longer-term uptrend.  It is slow moving but moving with the Bulls.  Watch ADP data tomorrow as it may very well be indicative of Friday's numbers.

CTM Trades:

AMZN - the March 115/110 bull put was filled at .40 credit.  Expectation is share value will remain above 115 through March's expiration.

CREE - the June Bull Call is getting close to its Primary exit, but not quite there yet.

Disclosure: Long AMZN and CREE