BIG GUYS

With all the blah blah blah about the how well the big cap stocks are acting, check out the action in the small cap Russell 2K index. It is up about 19% off the summer lows which compares pretty favorably against the SPX and the DJIA, which are both up about 15% from the lows. The NDX 100 would have been better yet up about 24% off the summer lows, but that would have been a major bet on big tech.

Obviously all the indexes are overbought again and waiting for another pullback is probably the way to go.

On the research front, STN is downgraded at B of A, MHP target raised to $80 at FBR, SIRI downgraded to hold at Morgan Joseph, ACF target raised to $34 at FBR, UBS upgrades SBUX and AG Edwards downgrades AXP.