7.16.2007

AFTERNOON TRADE


Markets continue to trade mixed and unless you have all your money invested in the DJIA, you are probably down on the day. Indexes trading in the red include SPX, small caps, mid caps, NDX, NAZ and the value line.

Strong sectors include gaming, trannies, real estate, financials and semis while oils, homies, retail and metals lag.

Winning stocks include DISCA CHRW GRMN S FAST VZ UTX KO NSC MMM BNI NILE SPAN FCS. MTW TEX GSOL and ICE.

Losers include AFSI TLVT SYNL BTJ SPEC FTK VIP SYNA COP BHI IP TGT FDX CVX AEP RYAAY VRSN GILD MNST and WFMI.

Market internals also in the red as the NYSE has 750 net losers while the NAZ has 650 net losers.

The NDX/OEX a bit better with flat internals.

Volatility indexes about flat and trading a bit higher than 15.

Keep in mind the market has had a big run of late and a sell off here would not be a shocker. The 2 day RSI on most indexes hovers between 80 and 90 with the DJIA at 95 and the QQQQ at 94 after tagging the 50 number this morning.

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