2.26.2007

MORNING FLIP


Markets trade mixed after a higher open on the heels of 2 huge buyouts, TXU and DOW.

Higher oil and gold may be weighing on the markets as most commodities trade higher.

Strongest sectors are utilities, homies, oils, metals, large cap value, drugs, internets, biotech gaming and reits. Leading lower are semis (told ya), trannies, airlines, defense, tech, brokers, retail and financials.

Market internals also opened strong but have since flipped to red on the NAZ and flattish on the NYSE. The NDX shows 40/60 up to down; SPX and OEX with about an equal number of winners and losers.

Volatility indexes a bit higher but not giving any buy signals yet.

I suspect the markets will gather some steam later in the day as the end of the month mark up guys find a perfect opportunity to unleash some dry powder.

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home