MIDDAY BLAHS
An uneventful day as Big Cap/Tech sells off while Small/Mids trade in the green.
Strongest sectors- homies, reits, brokers, gaming emerging markets and retail while metals, oils, internets and defense lag.
NYSE internals- FLAT
NAZ internals -FLAT
OEX -35 WINNERS;
NDX -35 WINNERS;
GREEN STOCKS- AAPL BAC BAM BIDU C GOOG GS ICE ISRG JPM LVS MA MGM MO MS MER;
RED STOCKS- AMZN CELG CME COST CROX GE IBB NYX POT RIMM UA WFC XOM;
BIG WINNERS- LAMR SHLD SYMC GOOG AKAM GENZ MXIM MS F EMC BAC BUD COF LEH GM BIDU LFC OMCL AIRM HMSY GLNG BCSI ACM FMCN VDSI;
BIG LOSERS- GRMN CNH BBL DWSN SII BW LWAY BHP SID MT COP XOM CVX CSC NXY UTX RTN WY BIIB RIMM VMED NIHD GILD SIAL QCOM MICC PAYX;
VIX up 5% and nearing 19;
Brokers and banks act well yet again as they continue their march back to where they were before the market cracked in July. Again, looking for more of a pullback before pulling the trigger as I expect a nice run up in the final two months of the year.
And congrats to the NY Knicks, a loss before the season begins.
posted by DAVID at
1:21 PM
2 Comments:
Contrary to your expectations of a ramp in to the year end, I expect a sharp correction around the end of October. I expect this to happen once earnings releases are out of the way and we have established new highs after the sleazy investment houses sucker regular Joe's money into the market.
Shocktober.
When Seidman was on last Thur about 11:45 am est there was a young woman in discussion said we should follow Japan's 0 interest rate formula which would lead to saving.Dylan incrediously said I guess you said that to take a different view and instead of opting out she repeated her stupidity.Seidman who is usually the mild Grandpa scoffed at Her and said Japan has had the worst economy of last 2 decades and finally turning.She again repeated her stupidity and Seidman and Dylan both just eased away.They do correct sure fire losers!!
ike
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