4.09.2007

GREEN SCREEN


Markets continue to trade slightly in the green with some the DJIA +24, NAZ +4 and SPX +3.6.

Strong sectors include gaming, trannies, metals, oils, emerging markets and large cap growth. Weaker ones include biotech, airlines, semis (sans INTC), brokers and homies.

Key stocks in the green include BAM GS OIH SGP while most of the brokers and banks are flattish and the xchanges generally red with CME and BOT leading lower.

Market internals continue mixed with +300 on the NYSE and -90 on the NAZ.

The recently lagging OEX (6 years) has the strongest internals with about 65/35 green to red while the NDX/SPX are a bit to the green side.

The sector that I find surprising today is the oil group as the OIH seems to want to leave old resistance at 150 in the dust. Still early but oil stocks are green while crude trades solidly red.

And of course never another down day in the EWA as it benefits again from the move in the metals.

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