TODAY'S OPEN: UP

The Bears Are Getting Stronger - The NASDAQ went on a Point & Figure sell signal yesterday, to join the S&P 500 and NYSE from last Thursday.
PICTURED BELOW: The S&P 500 Index ended lower for the 8th day in the past 9 sessions. Weakness typically begets more weakness. New buying efforts are not suggested until strength is sufficient enough for the major averages to rally and then, more importantly, follow through on their initial rally attempt with additional gains on heavier volume. Then, after a follow through day, strength becomes more likely to beget additional strength. (Yesterday, I bought Goldcorp call options)

What now? There are several strategies:
1. You shouldn't be on margin. If you are, pay the money back asap.
2. Go "defensive." Sell those stocks that still have high P/Es. Sell those large stocks that could be hit by a recession -- if we have one. (There is a real chance.)
3. Sell short some stocks that look over-priced based on industry specifics.
4. Don't panic. Don't dump everything and move to a deserted Pacific island. There are an awful lot of hedge funds and mutual funds with money that will pounce on your stocks.
5. Don't jump in because "prices are now cheap." They may get a lot cheaper. There is a real chance of a recession later this year....

Yesterday, leadership was virtually nonexistent in Monday's market, and financial stocks stood out among the session's weakest performers as the Broker/Dealer ($XBD -2.60%) and Bank ($BKX -1.63%) indexes showed more signs of deterioration. The tech sector also continued to to weaken as the Networking ($NWX -1.58%), Biotechnology ($BTK -1.19%), Internet ($DOT -1.08%), Software ($GSO -1.04%), and Semiconductor ($SOX -0.75%) indexes finished unanimously lower again. Commodity related issues fell along with the broader market as the Gold & Silver ($XAU -2.32%), Oil Services ($OSX -1.22%), and Integrated Oil ($XOI -1.19%) indexes were also vulnerable to the selling pressure of a widespread market correction. Losses for the Healthcare ($HMO -1.49%) and influential Retail ($RLX -1.37%) group rounded out another decisively negative session.

From 24/7 WallSt.:
Europe Markets 3/6/2007 Modest Rally
Media Digest 3/6/2007 Reuters, WSJ, NYTimes, Barron's FT
Asia Markets 3/6/2007 Big Rebound

When Brokers Top, Markets Follow by Gary Kaltbaum

Wall Street Breakfast in Seeking Alpha by SA Editors on Mar 6th
What you need to know before the open today.

David Fry's Daily Market Outlook
on Mar 6th, 2007 with stocks: EEM, EFA, EWJ, FXI, FXY, GLD, IEF, ILF, INP, IWM

Upgrades / Downgrades / Initiations from MarketWatch

TradingMarkets 7 Stocks You Need to Know for Tuesday - Tuesday's list includes: Chico's FAS (CHS), Volt Information (VOLT) and ADC Telecom (ADCT).

Stocks to Watch: Stocks in focus for Tuesday