10.05.2006

CHOP CHOP


Markets are bouncing around this morning with big caps having a negative bias and small caps a positive look. The NAZ is also a tad green and that is without the help of the SEMIS which are down about 1% as I type.

The sector list shows green for metals, oils, biotechs, trannies and internets while the retailers, semis, drugs and consumers are leading the loser list.

Market internals are still slightly bullish with about 900 more winners than losers. Upside volume is leading downside volume by a small margin and the TRIN is non committal at 1.02.

The financials have done an about face and are now fairly flat after starting the day in the red.

Pisani squawking all morning about the great retail numbers. And gee any idea why as gasoline tumbles by a bout $.50 per gallon in six weeks. And I just wish he would mention how most of the retailers are selling off on the great numbers with WMT KSS RTH and RLX all lower.

Best performers on the DJIA include CAT MMM XOM MO AA and UTX while WMT T VZ PFE and MRK lead to the downside.

I mentioned yesterday that today would probably be a choppy day and so far it is right on key as I have bought and shorted the YM Futures three times and three for three as rallies are sold and dips are bought. No guarantee it will continue for the rest of the day.

1 Comments:

Anonymous Anonymous said...

g.e.e whiz that photo was from FPS
in 2004 (seeing that made me want a cup of tea)

8:55 PM  

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