Markets went out near highs Tuesday with the Nasdaq showing the way, doubling the S&P 500’s gain of .4%. Volume was tepid however compared with the prior two days bulging losses. Apparently not all software names are created equal. Today a barrage of upgrades came in for CSLT as the name went public 3 weeks ago. Firms such as GS SF MS spoke positively on the name, as all were underwriters. The encouraging talk on the name did little to lift the dampened spirits of shareholders as the stock fell 5%. The stock has gained ground 4 of 18 days it has been public and it is off well more than 50% from intraday highs the day it went public on 3/14. There was no recorded stock split, a horrible stab at some humor. We spoke not to long ago of the abundance of new issues in the group just last month, and how that leaned bearish. Perhaps I may have been wrong with that assessment although the group has been wrecked. There was a good article in the weekend edition of the Wall Street Journal by Steve Case that spoke of the ease that companies can now come public. Transport name which has been a bulldog, SWFT, reported an earnings disappointment today losing 2.5%. The stock closed right near its prior 23.84 cup base trigger it took out on 2/15, rising 5% in firm trade.

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