Quote of the Day

"In time of prosperity friends will be plenty; In time of adversity not one in twenty." - James Howell

Morning News of Note:

• GM: Tough Line by Union to G.M. Setting up a potential conflict with General Motors, the president of the United Automobile Workers union said Wednesday that he would not agree to change G.M.'s labor contract before it expires in 2007 or to roll back health benefits for G.M. hourly workers to match the lesser benefits of the company's salaried employees. In an extended interview the union's leader, Ron Gettelfinger, said that while he was willing to make concessions to help General Motors within the terms of their existing contract, the two sides were not yet close to reaching an agreement. G.M., he said, had not presented him with enough information to convince him of the severity of the financial situation. (Full Story) NY Times
• AAPL INTC: (AAPL) computers w/ Intel (INTC) chips also expected to be able to run Windows and Linux, as well as Mac OS, eWeek notes
• TIVO: TiVo plan to offer movie downloads apparently is on track-- CNet (6.96 -0.07) CNet reports that TiVo's plan to offer movie downloads, likely in concert with Netflix, apparently is on track. According to a posting Wednesday on PVRBlog, photos of a TiVo demonstration of movie downloading and uploading video were published on the Web.
• YHOO: Yahoo ramps up 'deep Web' search effort - CNET (36.32 ) CNET reports that Yahoo began testing a service late Wed that allows people to perform simultaneous searches for information contained within subscription-based Web sites. While most search engines crawl the Web and troll freely accessible sites, they cannot get into much of the so-called deep Web, vast amounts of data stored within paid and password-protected sites.

Market Comments: The market opens higher this am, and is beginning another upward creep thus far. We did get a nice dip yesterday, but you had to be pretty nimble to catch it. I increased my long exposure slightly, but would like to get even longer at some point soon. Maybe options expiration this week will give us one more chance. But remember, often the sign of a strong market is one that never gives you a good chance to "get in".