11.16.2006

AFTERNOON TAKE

Markets are mixed with the big caps outdoing both the small caps and the "tech heavy" NAZ. Quite a change as this hasn't been the case in quite a while. DJIA+42, NAZ+2, SPX+4 and R2K-1.5.

Sector leaders include gaming, brokers, homies, trannies, financials, biotechs and drugs. To the downside are oils, metals, internets, retail and semis.

Market internals even with +300 on NYSE and -300 on NAZ.

Semis are trying to get back to the flatline and the TICK reading has hit the magic 1k number a few times, so I expect a run higher later this afternoon as everyone no doubt want to own stocks.

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