10.23.2006

DOGGY INTERNALS


Why are the market internals so doggy with the DJIA +90, SPX+6 and the NAZ +15? No clue as there are about 600 more gaining issues than losing combined on the NYSE and the NAZ. Generally, when the markets are this strong, the internals are generally +1,500 to +2,000, so maybe a little hint of an afternoon selloff.

Sectorwise, the winners are where you want them, GOOG, retail, airlines, AAPL, GS, SOX, brokers, internets and tech. Losers also where you want them if you are bullish on the major market indexes, with oils and metals lagging.

DJIA winners include WMT CAT GM MMM HPQ C and IBM. Losers include DIS MRK T UTX AA and AXP.