6.12.2006

MORE SELLING


This market refuses to let traders out of long positions as it continues to accelerate lower and the only green on the screens are the Volatility indexes, the 10 year Bond and MSFT. Oh and GM up almost 3%.

Also wondering what Jimmy will be telling us about KRY this afternoon. Its going be tough to tell folks to sell now as who exactly is going to be buying?

The TRIN is back near the 2.00 level indicating way oversold on the day and up to down volume is 215M up and 910M down- so ugly and not sure how long it can continue.

Market internals 3,000 more losers than winner and Art Cashen, one of the best on the street is still not expecting a rally. The final hour of trading will sure be interesting. And for anyone who can't bear to watch the screens, here is another terrific list of random links from Captain Kirk.

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