8.31.2006

BORING


Markets closed pretty much where they began the day with lots of CNBC cheerleading in between. Note to the CNBC crew, the SPX is exactly where it was on August 18 as is the QQQQ so enough with the blah blah blah X week/month highs.

Big winners on the day were the silver stocks as both PAAS and SSRI close up over 6.5% with brokers finally getting a bid as GS finished up over 1%.

Losers on the day included tech, oils, biotech and internets.

I would be careful here with the oils as I suspect few will want to be short the group over the long weekend. And is the slump finally over?

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