12.22.2006

MORNING DOWN


Markets open lower with DJIA -45, NAZ-10 and SPX -5.

There is weakness across most sectors with oils, gaming, brokers, banks, tech and metals doing the worse. Suprisingly retail is higher along with airlines.

Market internals are weak with 1,500 more losers than winners and up to down volume is 300/600.

The 10 year Bond rate is back up to 4.58% as it continue to trade in a range between 4.52 and 4.62%.

I have no great insight as I just watch but my instincts tell me that not much is going to happen today.

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