7.02.2007

AFTERNOON RAMP


Markets haven't budged much since the early morning ramp but oil has flipped the switch and now trades solidly in the green along with most oil related equities.


Other strong sectors include reits, metals, brokers, utilities, semis and small caps while gaming, retail and homies lag. The Donald seems to have destroyed some gaming capital with his decision not to sell out.


Key stocks generally higher with the exception of the xchanges; GS LM BSC MTB WB SLG MO MSFT TXN INTC RIMM GOOG AMZN DNA SGP green while BOT CME ICE NMX AKAM GE AAPL MGM WYNN LVS all red.


Market internals are bullish with 1,775 net winners on the NYSE and 900 net green on the NAZ.


The OEX is 7/3 green to red while the NDX is better at almost 9/1 green to red.


Big winners include BK S LTD VMED MICC NVDA GRMN JOYG COST RRST NVEC BTJ RIMM CMCO BIDU GSOL and MTOX.


Big losers- FMCN FCSX LEH.


Low 2 day RSI stocks include YHOO SYNL and AIG.


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