6.08.2007

STABLE?



Markets continue to trade higher but volatile as the 10 year Bond seems to control every blip of action. Currently the yield is back to 5.153% and if it hangs here or lower equities probably go higher.





Market internals continue to trade bullish with a net 200 green on the NYSE and 350 net green on the NAZ.





The OEX/NDX tandex continue with a 3/2 up to down trade with semis, gaming, airlines, trannies, brokers, tech and retail the sector leaders. Leading lower are METALS, drugs and oils.





The DJIA has about 20 winners led by INTC GM and MCD as JNJ MRK DIS and AXP act the worst.





Biggest winners include GSOL AFSI CPLA ESI BCSI AKAM MXIM CELG INFY NSM TXN GM TYC CSCO and ETR.





Big losers include DIS KFT WMB JNJ MRK ATI TLAB EXPE VRTX FLEX BTJ DRYS MTOX CYNO and IDSA.





Volatility indexes pulling back about 6% ahead of the long 2 day weekend as some fear seems to be abated.

Note that as the QQQQ is higher by by about .6%, all of Cramer's new horses are red.

This is the final post of the day as I need some R and R at the beach.

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