9.15.2006

LOOK THIS WAY


Don't tell anyone, but after hitting a high of $35 this AM, the SMH has traded straight down and seems to be bringing the rest of the NAZ along for the ride. As I type, the NAZ internals have flipped to red as has the IWM.

Not sure if this is/was just another gap fill trade or ominous signs of lower prices to come, but this is just a heads up as the action in NAZ internals/IWM/SMH are generally leading "tells" of market direction.

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