Trader Talk

Pisani: Another Slow Melt-Up


Another slow melt-up. Every day, the Dow goes up...20 points. The Dow is up 17 trading days in March, and down only four. It hasn't put together two down days since the last week of February. That's impressive.

What is not impressive: volume, and the advance/decline line is definitely showing signs of slowing down. Not a good sign.

More signs tech orders are improving: late in the day Applied Materials — a semiconductor capital equipment maker which is getting big into solar energy as well — said it expects fiscal 2010 net sales to be more than 60 percent higher than in fiscal 2009.

It sees a "multiyear expansion in the semiconductor industry"....and are attributing growth partly due to their strong position in China.

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