MIDDAY LULL
Big caps called again on CNBC more strategists as PFE BA JNJ MSFT C MO GE and PG all trade lower. The Midcaps and Small caps are again outperforming the OEX/SPX/DJIA.
The "tech heavy" NAZ is outperforming, as all stuff tech acts well. Any shot that our guy Cramer comes out with a "you gotta own tech" call to offset his "you can't own tech" call from the other day.
Strongest sectors included tech, semis, internets, reits, biotech, small cap value, silver, emerging markets and integrated oils. Leading lower are airlines, drugs, utilities and homies. And another great day for MGM.
Metals are flattish today and Bill Cara has some wisdom on silver. Long time holdings of mine and definitely still bullish.
Market internals continue strong with over 90 green on the NDX, 330 green on the SPX and 55 green on the OEX.
The NYSE has a net 750 green while the NAZ has 640 net green.
AAPL GS GOOG BOT CME MER MS IAI KLAC all green although hardly rip roaring higher.
Best of the 30 on the DJIA include CAT HPQ GM INTC DD and AXP while PFE AA T BA MRK and MSFT lag.
Other big winners include CSCO CSC CAT CI S APOL BRCM XRAY LVLT TLAB and INFY while the biggest losers include MEDI ADSK TYC SLE PFE AVP and EK.
The DJIA Futures have been hanging at there first level of daily resistance for the last few hours and I expect a try to the second level near the 12,745 level.
posted by DAVID at
12:54 PM
1 Comments:
Did you noticed thar Cramer turned bullish on oil yesterday. Probably means that oil run is done for now. Also, saw Liz Ann interview on thestreet.com with Aaron and almost fell off my chair. Did she say that she called overweight on tech at the right time? And she wants people to take take profit on techs now due to seasonality issues? Didn't she tell people to give up on equity last July? At the bottom of the corrction? How do we raise a bullshit flag?
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