5.24.2007

POST OPEN


Markets open higher with the big caps leading which is right in line with what every CNBC TV guru says of late.


Strongest sectors include oils, internets, airlines, retail, trannies small cap growth and homies; leading lower are utilities, biotechs, drugs, small cap value and tech.


Key stocks generally higher with GS C TIF BIDU GOOG AAPL VLO TSO XTO DNA FDX solidly green and PVH JOE BAM JPM CME ICE NYX NMX all red.


Big cap winners include BA EMC HNZ BHI AA S EK DELL PDCO RIMM UAUA ISRG LOGI EBAY and AMZN.


Losers include NTAP MRVL XMSR ROST VRTX ABT TWX ATI HIG GM ETR INTC MR TBSI CTRP ICE PTNR PCLN and TWIN.


Market internals have flipped to green after opening pretty ugly. The NYSE has 300 net winners while the NAZ has about 150. Much better numbers on the major indexes with the OEX at 80/20 up to down while the NDX is at 70/30.


The IBD 100 is led by RIMM PCR CRDN BTJ CHE ISDA AND VSEA and shows about 75 up and 25 down.


Volatility indexes down about 1.5% and with out signals.


The markets have moved higher as I have typed with the DJIA now +80 and the SPX +6. I will go out on a limb and say the demand for equities trumps just about all other theories and it will keep the markets moving higher.


In addition, from watching markets over many years, comments like those from Greenie yesterday do not generally have much staying power and usually are good buying opportunities.


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