9.07.2006

QUICK TAKE


Markets open lower with all sectors in the red except for the oils which have opened flat. Worst of the sectors are metals, techs, small caps and internets.

Market internals show 2,800 more losers than winners which is a hair better than yesterday's numbers at this time.

Interesting how AAPL and KLAC trade near the unchanged line so maybe a little tell that a "snap back" short term bounce may be near. GE PG FTO VLO and USO about the only other green on my screen. When does Boone show up to give oil a little pop?

Volatility indexes really not jumping all that much as VIX/VXO both higher by 3% to 5%, so still not that much fear in spite of the calendar.

Six DJIA stocks are higher with PG XOM GE MO leading while CAT INTC MRK HPQ are the worst of the other 24.

Oil patch numbers due at 10:30 EST, so just a heads up.

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