3.21.2006

10:00 UPDATE

The markets are all lower this AM sans the meaningless DJIA. The one stand out on my screen with big GREEN BARS is the SMH. I believe Cramer did give the buy signal on Friday when he said

"I say, forget about the Nazz for awhile. It's the big listed guys' turn. That's enough to do the job, and for once, accept that stocks are really and truly breaking out. While Marvell and Broadcom were leaders, it's their time for a breather. No more than that."

The Semis are the only sector so far today that I see as green (+1%) although it is early in the day. Everything else is lower with the Metals taking a real hammering down 2%. The market internals are 1, 500 to the red and the ten year bond is trading back up to 4.68%.

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