CLOSING ISSUES

Definitely one of the more boring days on the street as the DJIA closed down 72, NAZ -18 and SPX down 9. Surprisingly, mid caps were the best performing major index with the RUT being the bottom performer. Note the Middies are up almost 6% on the year while the OEX, the biggest SPX 100 stocks is down on the year.

Strongest sectors included biotechs, oils, semis and internets while the worst groups were gaming, metals, real estate, homies, trannies, airlines and brokers.

Market internals were lousy all day closing with a net 2,300 red on the NYSE and NAZ.

The OEX/NDX/SPX closed with about 4 down for every one up.

Strong stocks were AMLN MEDI ERTS SYMC LBTYA MICC AMZN XOM AES and S while DD MDT CPB TYC MER WY PCAR WYNN PAYX and INFY were among the worst.

Volatility indexes generally higher by around 5% with the VIX/VXO tandem trading about 5% below their respective SMA's.

I still suspect the markets will put in a decent rally before the month ends but today was not the day.