3.02.2007

WEAKNESS CONTINUES


Markets trade lower as chatter continues concerning "not being long into the weekend."

Not sure what will/can happen during the weekend so probably a short term buying opportunity.

Strongest sectors include retail, biotech and utilities. The weakest are silver stocks, metals, gaming, oils, internets, brokers, small caps and tech.

Market internals are very weak again with the NDX internals showing 15/85 up to down. SPX and OEX show about 1 up for every 4 lower.

Overall, 2,600 more lower than higher on the NAZ and NYSE.

Biggest winners - SNDK SHLD SPLS SYMC LOGI COST AIG WY TGT WMT and DELL.

Biggest losers - EP ATI EMC CSCO SEPR AKAM NMST ALTR WYNN and EBAY.

Volatility indexes up about 12% on the heels of the coming "weekend fiasco" and silver favorites PAAS and SSRI both down 5% and I am dipping.

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