AFTERNOON SWOON

Rates continue to rise and the major market indexes continue to fall. The DJIA is -150, NAZ -39, SPX -23 and under the 1,500 level and about 45 points off the recent highs. The RUT/MID both lower by almost 2%.

Market internals continue to worsen and the NYSE with 2,750 net losers and NAZ with 1,770 net losers. The OEX/IBD 100 stocks with 5 green stocks and the NDX with 10.

Sectors that are incurring the biggest losses include metals, homies, real estate, utilities, biotechs, brokers, trannies and airlines while corn wheat and soybeans are all green.

The VIX is up 13% for the day and the VXO is higher by 18% so fear has definitely hit the markets. Those numbers put the VIX/VXO tandem about well above 20% over their 10 day SMA's. Generally markets do not go straight down (especially from these over sold levels) although this time could be different, (lol).

Green stocks include ATHR DECK AAPL RIMM GD EK CSC MCD KFT BMET MRVL VMED AMZN APOL and PDCO.

The reddest of the red include ATVI CELG ERTS MICC WMB ETR NSC BNI MER BMY BAX SRSL GSOL TBSI DRYS RRST and VSEA.

The silver stocks also hammered today along with the physical metal and gold as the "they don't pay interest" becomes a theme.

The 2 day RSI's if anyone cares- DJIA 2, SPX 3, RUT 4, MID 5 and NAZ 4. The trading rule is buy em under 10 and sell em over 70.

Yes, I am dipping in again and buying more.