CHOP CHP DAY
Markets have opened mixed but have climbed higher on the ISM number. DJIA +32, NAZ+5 and SPX +4. Please rembember that days after strongly trending days tend to be choppy and I expect today to be no different.
Leading sectors include metals, internets, semis, oils, drugs and retail. Lower are gaming, airlines, brokers, biotechs and trannies.
Market internals have flipped nicely green on the news to +1,100 on the NYSE and +660 on the NAZ.
DJIA winners include KO MCD XOM MRK HD and DIS while GM AXP DD VZ and MMM lag.
The 10 year rate is up to 4.456 and that might be a headwind later in the day.
I suspect that this rally will be sold but have no plans to short as I thinkbetter prices will appear soon enough.
posted by DAVID at
10:04 AM
2 Comments:
re. our friend Jimmy: PEP was my largest position and I was thinking about selling it few days ago since I had a nice profit and looked as if the stock was coming under pressure. Thought long and hard and was real close... But I started to hear Jimmy Cramer being negative on the stock and telling everybody to sell it so I kept it. What a great decision. Thx Jimmy!
He remains the one and only-
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