10.04.2007

OPENING LULL


45 minutes into trading and its shaping up to be a rather boring day as all eyes are on tomorrow's job report. The DJIA +7, NAZ -2 and SPX +1 while the RUT/MIDs are about in line with the major indexes.


Strong sectors include financials, utils, drugs, brokers, biotech and reits while oils, homies, gaming and semis lag.


NYSE internals FLAT;

NAZ internals FLAT

NDX 35 WINNERS;

OEX 60 WINNERS;

IBD 100-40 WINNERS;


VOLATILITY INDEXES FLAT;


Key stocks GREEN- BAC BAM C CELG COST CROX GE GS IBB ISRG JPM MA MS POT RIMM WFC;


Key stocks RED- AAPL AMZN BG BIDU CME GOOG ICE MGM MO MER NYX SMH UA XOM;


BIGGEST WINNERS- S ETR RF CBS COF SHLD GRMN LAMR RIMM AKAM PDA CPLA PAY SNHY AIRM FLIR;


BIGGEST LOSERS- DRC CRNT CTRP HDNG VSEA PKX ACM COP BDK F AA SLB ROK CAT LEH NIHD KLAC ESRX LRCX JAVA NTAP WYNN;


Flatline trading with notable strength in the financials including BAC C JPM MA MTB WB WFC GS LM MS TROW. Tech/oils weak again and probably getting close to a very short term bottom.


More predictions- I look for GS to hit 250 level before year end and OIH to top the 200 area in the same time frame. Just more demand for equities and relatively generous valuations.

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