SIDETRACKED

A bit sidetracked today dealing with some personal issues but I do notice that yesterday's buys of JEF and SNDK are acting quite well.

The SPY support area of 130 has held so far but I am not sure that is going to last through the day. The market internals continue to be troublesome at 1,500 to the red. The Semis are offering a glimmer of hope as they have turned from red to green. Probably not today for the balance of the market but shortly as we are now oversold enough to get a bounce later in the week (tomorrow).

Not sure if anyone is focusing on the 10 year Bond, but it is now over 5.07% and causing some of the markets problems. GS is getting whacked to the tune of 2% today and that one may go on the buy list for later in the week. The other brokers (LM MER BSC) are also taking it on the chin today. The Oils (not VLO) have also come way back as the OIH trades back to almost unchanged after being down more than 3 bucks.