GM, Merck, Exxon Mobil Halted

12:10pm (EST) Three servers went down on the NYSE and trading in Exxon Mobil (XOM, $73.50, down $0.55), General Electric (GE, $13.31, down $0.15) and Merck (MRK, $26.99, up $0.80) has temporarily been halted. In all, I’m hearing over 200 stocks have been affected by the communication problem between Wall Street and the outside world. These stocks are still trading through other exchanges and the issue should be resolved shortly, if not already. Turning to the market, the Dow has drifted in-and-out of positive territory and is currently down 13 points to 8,757. If the Dow closed right now we would be down for the week. Given the lack of catalysts for the bulls, I’d say they have done a fairly good job of holding their battle ground. I still think we make a push towards Dow 9,000 but the key level everybody is watching is 960 for the S&P 500 which currently stands at 940, down 4. If the market is able to push through these technical resistance levels, we could get another leg up. This would also mean the Nasdaq (1,840, down 22 points) would likely test the 2,000 level. It has been a long week and I would like to take this time to thank everybody who signed up for the new trading service. Yes, we had a few snafu’s but I think everybody is on board now. We will be revamping the Members Area over the next few weeks and we are excited to to have you as a subscriber. Have a GREAT weekend and I’ll see ‘yawl at the open on Monday morning. Rick Rouse Rick@TheOptionInvestor.com Note: Bank of America (BAC, $13.92, up $0.95) is up another 7% today…]]>

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