8.14.2007

CLOSING THOUGHTS




Markets closed at their lows amid a continuous flow of bad news from WMT HD TMA LMT and MFA.

Strongest sector was biotech while real estate, brokers, homies, metals, retail, internets and airlines were the worst groups.

WINNERS- WYNN ATVI NVDA XRAY XMSR SIRI BIIB BEAS GILD GENZ DWSN NVDA CF OII ABB FSTR HURC TDG BCSI VIVO TPX CPLA TLVT.

LOSERS- LFL VDSI FCSX GRMN RIO SMSI NILE CMG PCLN CMED DSX VSEC AMAT LAMR MICC SNDK AKAM JNPR FAST CHRW.

Internals were lousy all day and closed near the low with about 2,500 net losers on the NYSE and 1,400 net losers on the NAZ.

The volume on the NYSE was about normal with 153M to the upside and 1.63B to the downside.

Volatility indexes closed up about 5% with the VIX now trading at 27.68, still lower than the recent high near 30. So less fear and less expensive options at lower prices, hmmmm.

The pictures show a pretty obvious bullish divergence on the SPX chart and even on the VIX. Problem is that its very difficult to get aggressively long when bad news seems to come out of the news wires all day every day.






1 Comments:

Anonymous Anonymous said...

Smart Money Adami repeat DOG. SDS in line.Bio did well today.GILD and VIVO that I have owned for over 10 years up 850%.Split in spring again now from 21 to 25 in this crappy (unless you are short) Market.They will raise dividend again in November.
ike

4:41 AM  

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