5.29.2007

THE CLOSE


Markets continue to be resilient as the DJIA closes +14, NAZ +15 and SPX +2.5. The RUT was the star of the day closing higher by .9% and way better than any other major index.


Strong sectors included biotechs, small cap growth, brokers, defense, utilities, semis and gaming. Commodities, metals, drugs, banks, homies and large cap value lagged.


Big winners included GS CME ICE NMX MER MS BSC MA SLG TRC FCE.A GOOG APC CAM FDX CTSH MGM DNA CDWC FISV JNPR MRVL VRSN EP BUD CL GD VZ GSOL EML WNR PCR TBSI ROLL and IDSA.


Market internals closed nicely green on the major indexes with the NYSE at +880 and the NAZ at +710.


The OEX/NDX were both better than 3/2 green to red.


Volatility indexes closed slightly higher but no buy or sell signals.


Markets sold down mid day as news hit that the Chinese markets were increasing certain stamp fees to slow down the markets. Well just another opportunity for the dippers to buy as demand for equities trumps all other theories.

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