OPENING PEAK
Markets have opened lower led down by the small caps and the NAZ/TECHS.
In a reversal from yesterday, tech is lagging on the heels of DELL and maybe an overbought condition; other losing sectors include internets, semis, small caps, trannies and biotechs. Best sectors include oils and metals.
Market internals are decidedly bearish with 1,500 more losers than winners with the NAZ taking the brunt of the beating. The DJIA is slightly green and it is all due to MO which got some kind of unfavorable/favorable ruling yesterday after the bell.
Yesterday, I mentioned that no one on my pings was asking about shorting stocks at the open, all I heard was should I cover or buy? Well shorting the QQQQ at the open yesterday looks like a pretty good trade as of now.
posted by DAVID at
10:07 AM
2 Comments:
But....MSFT IS UP ON THE NEWS THAT THEY WILL BE A PRIVATE COMPANY WITHIN 21 MONTHS WHEN THEIR SHARE BUY-BACK PLAN IS COMPLETE.........
http://millionairenowbook.blogspot.com/2006/08/play-ball.html
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