THE CLOSE
Markets close at/near the lows of the day with the DJIA -199, NAZ -46 and SPX -27. The RUT/MID worse with 2% losses and the gains for the year are rapidly slip sliding away.
Worst sectors included homies, real estate, metals, utilities, brokers, biotech, trannies and airlines. Defense and banks were the best but still lower.
The new 4 horseman - AAPL up 40 cents, GOOG down 3, RIMM red 75 cents and AMZN red by 25 cents. So Cramer continues his stellar record of buying higher.
Market internals as bad as they get with NYSE red by 2,750, NAZ red by 1,725. The NDX/OEX/IBD 100 each had about 5 stocks in the green out of 100.
Winners included GD KFT EK VMED BMET MRVL AAPL ATHR DECK and NILE.
Biggest losers included SRSL RRST TBSI GSOL NSC ETR WMB EXC MER GS ATVI CELG JOYG MICC ERTS and GILD.
Love the genius on CNBC as they analyze the VIX/VXO and wonder if the direction of the markets are now changing and maybe we are in for some sort of a correction. Note to CNBC analysts, the SPX closed about 2 points off of its 50 day SMA and just had a big correction over the last few days. Everyone wanted a dip and now that they we get it well they are not so happy.
So Bill Gross is bearish on bonds as he predicts rates on the 10 year will climb to 6.5% over the next 3-5 years. Well I guess one could predict anything over 3-5 years and be correct but this is Gross so it has more weight.
I will not mention how far the markets are stretched to the downside or the 2 day RSI's as they haven't worked much of late because of the recent interest rate rise. But eventually we will go up and guess what, everyone will be saying "why didn't I buy when it dipped in early June."
Worst sectors included homies, real estate, metals, utilities, brokers, biotech, trannies and airlines. Defense and banks were the best but still lower.
The new 4 horseman - AAPL up 40 cents, GOOG down 3, RIMM red 75 cents and AMZN red by 25 cents. So Cramer continues his stellar record of buying higher.
Market internals as bad as they get with NYSE red by 2,750, NAZ red by 1,725. The NDX/OEX/IBD 100 each had about 5 stocks in the green out of 100.
Winners included GD KFT EK VMED BMET MRVL AAPL ATHR DECK and NILE.
Biggest losers included SRSL RRST TBSI GSOL NSC ETR WMB EXC MER GS ATVI CELG JOYG MICC ERTS and GILD.
Love the genius on CNBC as they analyze the VIX/VXO and wonder if the direction of the markets are now changing and maybe we are in for some sort of a correction. Note to CNBC analysts, the SPX closed about 2 points off of its 50 day SMA and just had a big correction over the last few days. Everyone wanted a dip and now that they we get it well they are not so happy.
So Bill Gross is bearish on bonds as he predicts rates on the 10 year will climb to 6.5% over the next 3-5 years. Well I guess one could predict anything over 3-5 years and be correct but this is Gross so it has more weight.
I will not mention how far the markets are stretched to the downside or the 2 day RSI's as they haven't worked much of late because of the recent interest rate rise. But eventually we will go up and guess what, everyone will be saying "why didn't I buy when it dipped in early June."
posted by DAVID at
4:10 PM
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