The action in the banks/brokers is just awful as the issues of sub prime slime refuses to go away with Big Ben on the big screen.

GS down 1.7%, C down 1%, JPM down .8%, LEH down 2%, MS down 1.5% and MER down 1.25%.

Hard to have the broader indexes move higher when the financials act so poorly but so good.

Best performing index is again the NDX and Large cap growth;

Biotech all green with the exception of DNA as GILD seems to be breaking through;

Defense excelling again with TXT and GD acting well;

Gaming also good with LVS/WYNN starting to play catch up after having lousy first halfs;

Media all red with the exception of DTV as DJ sinks just about every day;

Metals a bright green with GG GBN BP EWA all acting well;

Oil service having a good day but the refiners all red with VLO TSO HOC FTO all losing their momentum;

Retail a mixed bag with CWTR DECK LTD PVH TGT UA WMT good and COST KSS WFMI not so good;

Tech another mixed bag with AAPL AKAM BRCM CTSH HPQ IBM INFY KLAC MSFT RIMM very good and HHH SMH EBAY GOOG SNDK TXN YHOO not so good;

Trannies up again led by FDX and LUV;

Market internals still green but weakening a bit while the TRIN shows 1.05- more volume to losers- Up volume 377- Down volume 225 - still bullish;


Anonymous Anonymous said...

Brokers...Looks like a buying opportunity to me. http://www.minyanville.com/articles/sentiment-banks-brokers-xlf-wfc-mer-c-bsc-leh-usb/index/a/13384

12:37 PM  

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