ANOTHER MAGNET

The markets have flipped to flat after the initial gap lower was rapidly bought. Another shocker as demand for equities contintues to surprise bull and bear alike.

Small caps and tech have led the markets back this morning and I suspect they may be the leaders on any market jig next week. Leading lower are internets, drugs, brokers and trannies.

Market internals have also gone green and the NYSE is leading the way as fixed income skews the actual numbers as the 10 year Bond has traded to a 4.53% rate.

One stock that I follow closely that seems to be green about every day is AAPL. It is only about 9 bucks from the magic $100 and for whatever reason, stocks that trade a bit under the century mark tend to get magnetized to the level. I suspect AAPL will be no different and now that MSFT has shown us what a KEWL product they made with ZUNE, the trip to $100 should be quick.