11.20.2006

OPENING CHECK


Markets open mixed with the metals the best performers on the heels of higher gold and the huge buyout of PD buy FCX.

Market internals show about 750 more losers than winners but improving.

Strongest sectors include metals, brokers, airlines, drugs, financials and semis. To the downside, oils, retail, internets and tech.

DJIA winners include AA DD T MSFT JPM and INTC while VZ HD XOM BA and AIG lag.

GS hit a new high this morning and seems to have a clear path to the $200 level on the heels of merger mania. How much money are they going to coin on all these deals?

I expect the markets to flop around much of the week with a slight upward /big cap bias.

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