NOON SWOON
Just as we were all excited about the markets this morning, the plug has been pulled and the markets are flatlining (SPY -.08/QQQQ +.03/IWM -.20), and the market internals have flipped to flat from +1,300. Semis, GOOG, Internet's (HHH) all act doggy while AAPL has a little jig.
The financials are leading the trip lower with recent market stalwarts GS LEH BSC MER LM all much lower. C WFC and BAC are also red as the 10 year Bond has backed up to over 5.13%.
The VIX is back up over 12 (oh boy) or about 4% higher.
The leaders are still metals and oils (OIH Puts anyone?) and my strategy is still to buy the dips into the SPY pivot and sell the rip into resistance.
Big question though is Why are these brokers getting hammered; Too much too quick or are they forecasting a bigger market dip?
The financials are leading the trip lower with recent market stalwarts GS LEH BSC MER LM all much lower. C WFC and BAC are also red as the 10 year Bond has backed up to over 5.13%.
The VIX is back up over 12 (oh boy) or about 4% higher.
The leaders are still metals and oils (OIH Puts anyone?) and my strategy is still to buy the dips into the SPY pivot and sell the rip into resistance.
Big question though is Why are these brokers getting hammered; Too much too quick or are they forecasting a bigger market dip?
posted by DAVID at
12:20 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home