1.31.2007

MORNING GLANCE


Markets open mostly lower but have flipped on the oil build news with the DJIA the sole major index in the green on the heels of strength in BA (good for about 30 points). SPX is +1 and NAZ is +4.

Strongest sectors include gamings, GOOG, metals, trannies, homies, retail, drugs and defense. Leading lower are semis, brokers, emerging markets, tech, biotech, airlines, software and small caps.

Market internals are also weak with a red 150reading on the NYSE and red 300 on the NAZ.

Major indexes show 50 winners on the OEX and 60 on the NDX with about 240 winners on SPX.

Best acting stocks include BA BMY GOOG DD ATI CHRW CKFR EXPD DISH EL and BA.

My key stocks are slightly green except for GOOG (+6.5).

Volatility indexes are trading near the flat line and crude is down 75 cents on a 2.7 million barrel build in inventory compared to a 1.5 build consensus.

And congrats to those long the DJIA Futures as they again challenge the 12,600 number.

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