SEEING GREEN

Markets all over the board again and giving updates is not all that beneficial. I am not daytrading as one could get wiped out trying to figure out the way of the trend but I am continuing to buy for the intermediate term (EWA IWM) and a green close to the day's trade would not surprise me at all as we went under Tuesday's low and traded higher wiping out those stops.

Strongest sectors (not necessarily green) include the OEX/DJIA biggest caps, gold, software, silver, drugs, oils, defense and large cap value. Weakest are gaming, biotech, brokers, reits, emerging markets, retail and small caps.


Market internals are rapidly turning green as the OEX big caps started out with zero green now showing 20 up. The SPX also rapidly flipping with about 50 green and the NDX doing the worst with 10 up.

Big caps in the green as I type include ORCL S EP MDT COP BMY PEP MRK BA MO KO GE PG and BA.

Biggest losers include GM IBM AA UTX LTD AMGN NSM ATI AES F CAT and COF.

Volatility indexes way off their highs with VXO/VIX combo now only up about 15% after being up about 25% earlier.

I guarantee nothing but I will go out on a limb and say we close in the green on the OEX/DJIA/SPX complex, you know the flight to quality group.