7.02.2007

THE CLOSE


Markets closed at/near their highs with the small/mid caps out performing by a pretty wide margin.


Strong sectors included reits, metals, utilities, oils, brokers and defense while gaming and retail under performed.


Big winners included VMED MICC S NVDA JOYG BK EXC LTD ATI BIDU BTJ NVEC RRST RIMM and MTL.


Losers- FMCN FCSX LEH VSEA ICE INTU SNDK VRTX and SYMC.


Market internals were very bullish all day with almost 2,000 net gainers on the NYSE while there were 950 net gainers on the NAZ.


Also, better than 3/1 winners to gainers on both the NDX and the OEX while the IBD 100 Showed 85 up and 15 down.


The VIX was down 5% while the VXO lost almost 12%; the VXO is about 9% under its 10 day SMA while the VIX is hanging in just under its 10 day SMA.


The 2 day RSI readings on the major indexes are sitting at over bought levels at/near 90 with the NDX sitting at 95 while the RUT, despite today's out performance, is still only at a reading of 80.

1 Comments:

Blogger Ajay said...

Whats up with baidu?cant find any news and up 10% for the day?

shorted some at the close!!!

5:38 PM  

Post a Comment

Subscribe to Post Comments [Atom]

<< Home