THE HOMIES
Markets are trading higher as some good news regarding home sales hits the tape.
Strong sectors include oils, gaming, trannies, banks, semis, retail and brokers. To the downside are big cap biotech, silver stocks, MSFT, real estate, drugs, tech and utilities.
Key stocks are generally mixed with the techs lower led down by MSFT AAPL and GOOG while most of the brokers/xchanges are green
Market internals have improved from the open and now show a net 700 green on NYSE and net 225 green on the NAZ.
Surprisingly, with the tech sector acting doggy, the NDX internals show 70/30 green to red while the OEX is about 3/2 up to down. The SPX about 340 up to 160 down.
Volatility indexes basically unchanged as the VIX/VXO combo trade near the 12.5 level.
The OIH has headed straight up of late and keep in mind the last time it was up here it hit its had right at 150; just a couple of bucks away and maybe a preview of coming attractions.
Not sure if anyone caught the Abbey Joseph Cohen interview, but some great insight as she remains bullish on the SPX and recommends "selected capital goods companies." That could be just about anything and the dopey CNBC "journalists" refuse to call her on this nonsense as she repeatedly comes on TV and offers nothing of any use to viewers. I know, unlike the other guests.
posted by DAVID at
11:05 AM
3 Comments:
you sound slightly negative on CNBC.
Nah- they are terrific- and how about their great trading ideas-If only they would talk about GM DCX MRK and Vioxx more often- Seriously - why don't they try a segment focusing on stocks like IBD 100- Charts, earnings growth and developing trends- Wouldn't that be more helpful than GM and Vioxx?
I am only being flippant. I stopped watching two years ago. Can't stand it. I just find it funny that everyone loves complaining about it so much. Turn the crap off.
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