11.20.2006

CHOP CHOP


Markets continue to flop around with a NAZ over DJIA slant.

Strong areas continue to be metals, semis, brokers, oils(flipped to green), retail and airlines. Leading to the downside are drugs and biotechs.

Market internals continue to meander near flat with about 350 more winners than losers and most of those on the NYSE.

DJIA winners include AA MSFT HD DD WMT and INTC; leading lower are VZ MRK BA AIG HON and C.

GOOG is not getting much jig and many folks think the NAZ will have a tough time making progress without it even though the SEMIS are acting well.

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