8.01.2006

SNAZZY NAZZY



Markets continue lower and anyone notice how bad tech and SMH are performing. Any truth to the death cross of 50 under 200? Yes, they are the worst performing indexes, and another question- If inflation is back based on the morning economic release, why is the 10 year Bond still trading under 5%?

Market internals still lousy at 2,500 more losers than winners, but NYSE is slowly improving while NAZ sits near the lows.

The only sector in the green is precious metals while big losers are semis, tech, GOOG(-2.5%) trannies, retailers and biotechs. My big market tell, GS, is down 1.6% so a turnaround is probably not in the cards today as it's a fade rallies kind of day and is there any bottom to the internet sector; HHH EBAY YHOO AMZN lower every day.

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