7.19.2007

CLOSING EUPHORIA


Markets closed the day higher with the DJIA finally sticking above the "all unimportant" DJIA 14K level.


After hours, not so joyful as GOOG slides about $40 to the $510 level while MSFT also loses some of its luster in the after hours.


Best acting sectors during the day included oil service, tech, utilities, metals, defense and semis while brokers, banks, internets and homies lagged.


Winners included JNPR ISRG BRCM CTXS LOGI IBM EXC HPQ AES SLB BDK DRYS FTK TBSI AVT FSTR and SPAN.


Losers- NVEC WNR FCSX BIDU ESI HOC MICC SIMO BAX AA MS GS ALL GM LEH CTAS QCOM XLNX EBAY and ALTR.


Market internal were green all day as the NYSE closed with 830 more winners than losers while the NAZ closed with 590 more up than down.


The OEX/NDX both with 65 up and 35 down.


Love the Lee Raymond interview on CNBC; during his last few years at XOM he reiterated almost daily how the price of crude should be in the $28 area and XOM sees no demand /supply imbalance. Pay close attention.





1 Comments:

Blogger Ajay said...

Dont you think David that crude will be pulling back like it did last year after a "slow" hurricane season.

9:52 AM  

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