5.16.2007

THE OPEN


Markets open higher with the DJIA +43, NAZ +10, RUT +2 and SPX +7.


Strongest sectors include gaming, banks, trannies, retail, brokers, homies and airlines; lagging are semis and metals.


Key stocks mainly green with MS MER GS LEH ICE NMX BOT MO RIMM BIDU AAPL GOOG WYNN MGM AMGN GILD TXT all higher while INT KLAC PEP BSC MA and MRK all lower.


IBD 100 winners inlcude CPA SIMO CNH GSOL IGLD and GES while losers include BID VSEA FTK IDSA TTEC DLB and PCLN.


Market internals are bullish with a net 1,000 green on the NYSE and net 670 green on the NAZ.


The OEX/NDX both with about 7/3 winners to losers while the SPX is about 350/150 ups to downs.


Volatility indexes lower by about 1% and continue to trade in a tight range.


Liz et al all excited about the oil inventory numbers with 10 experts waiting to give their take (can't wait), they may be signalling a near term top in oil stocks; wouldn't be surprising.

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