NOON VIEW- MER
Stocks continue to trade mixed with small caps and tech outperforming the DJIA and the SPX.
Oils stocks are the shining light today on the heels of higher crude and any chance that they take up the DJIA this afternoon? Yeah I say they do and my money is on the line.
Sector outperformers today include oils, metals, tech, GS, LEH, AAPL and the semis. To the downside find the retailers, airlines, biotechs, consumers, drugs and internets. MER has also been a great stock as noted by the chart. I expect terrific earnings from them shortly.
Market internals have hung green most of the day with +500 on both the NYSE and the NAZ.
The TICK's continue to trade above the zero line for most bars and that is generally bullish as the buy the dip crowd will probably show before the day is over. And any chance for a gap opening higher on Monday?
posted by DAVID at
12:19 PM
1 Comments:
If the other indices are to catch up to their yearly highs, the Dow 30 needs a rest. MDY, IWM, QQQQ - are all clawing their way up to their old highs. Also, a few points from here, the Dow faces the 12,000 psychological resistance.
Within a month, I envision all indices to post yearly highs (and then some) in a glowing finale that sucks in main street before the greedy and seedy Wall street starts distributing.
Remember the old saying: "When Joe gets in, it's time to get out!"
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