THE CLOSE

There it is, another week punched and another DJIA record, although a predicted choppy day with an upside bias despite the red internals.

Strong stuff included MSFT, oils, silvers, AMGN, AAPL, defense, brokers, metals, biotechs and growth stocks. Weak links - airlines, gaming, semis, trannies, small caps, retail, utilities and drugs.

IBD 100 winners inlcuded VSEA NTGR MFW FLIR MTOX EDU NOV DECK MTW and PRFT -while ROCM WFR DXPE GROW WCG BTJ and SIMO tanked.

Market internals were weak all day despite the green major indexes as the NYSE closed with 440 net red and the NAZ closed with 680 net red.

The OEX closed with 3 up to 7 down and the NDX with 2 up to 3 down.

VIX/VXO indexes dripped a bit lower and now trading at their 10 day SMA's. Even the experts can't seem to figure out why the vol indexes don't drop further on the drift up in the major market indexes so I won't try.

The only thing that is clear is there is demand for equities and every dip gets bought. Witness today's crummy GDP/Inflation numbers, who cares, they are down buy em. Next week, probably merger Monday or just normal Tuesday has them higher again. As I have said, I am holding some index futures for the next run to the next talked about new record, SPX 1,525.