10.17.2006

BLOG WHAT


Markets look like they want to bounce and I am long some DJIA Futures with a fairly tight stop as I don't generally like to fade poor internals. Anyhow, looks to me like the "buy the dip" crowd wants to buy this dip as the TICK has suddenly seen some high numbers.

Market internals now red by about 2,300 issues and worst performers continue to be tech, semis, oils, trannies, metals and brokers. Only green VIX/VXO biotechs, airlines, drugs and some banks.

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