ALL THE BLATHER

They can't be serious with all this talk about five/six year highs and of course the shift to large cap stocks. After all, since February 1, the IWM is + 5.4% and the SPX is +3.4%, so clearly a major shift is underway. Who writes this stuff for the CNBC anchors or do they just analyze the data on their own? What exactly did Melissa Lee notice as she mentioned the shift to large caps. Today the IWM was up 1.3% and the SPY was higher by .75%.

The big winner on the day as usual was the Oil stocks as the OSX was up 3.4% and the XOI was higher by 1.8%. My favorite, the OIH was higher by 3.3% and I predict the puts go worthless before expiration Friday.

The brokers bounced a bit today and AAPL was a big winner on the NAZ 100 as the QQQQ soared 7 cents on the day. The SMH also an area to watch for the momentum crowd soared a dime. Why do these anchors insist on finding and telling us about the winning indexes and ignore the laggards?

Market internals were green on the NYSE by 900 issues and 350 on the NAZ. Volatility indexes dribbled down roughly 4% and offer little in the way of buy or sell signals.