10.29.2007

OPENING WINNERS


Markets trade higher yet again with leadership from gaming, metals, emerging markets, semis and utils. Laggards include airlines, trannies, biotechs and internets.


Key stocks- 25 out of 40 in the green led by WYNN LVS POT BIDU MTW VMW UA MS COST and GS (new hi).Laggards- NVDA ISRG DECK CELG IBB NYX.


Up Volume more than twice down volume;


VIX Flattish;


222 New Highs on NYSE v 23 New Lows;


Market internals, strong with 900 net gainers on the NYSE and about 400 net green on the NAZ.


NDX 60 GREEN;

OEX 70 GREEB;

IBD 100- 75 GREEN;


Biggest Gainers- LVS WYNN AKAM DELL NIHD SNDK MRVL WFMI LRCX JNPR SYMC SSRX HDB FTK EDU CMED WX SLT WY LEH COF LTD MS AES;


Biggest Losers- HIG BHI GD HPQ FDX UPS AMGN SCHN TISI SNCR ISRG CMG MICC NTAP YHOO UAUA SEPR ERIC FAST;


Gold close to a new high, SPX about 35 points from the highs, DJIA about 300 points away and OIL at a new high. Bottom line, dollar isn't worth a whole heck of a lot and the SEMIS are up for what seems the first time in a month.


Markets look to be heading higher and new higher probably in the next few weeks.

1 Comments:

Anonymous Anonymous said...

I was thinking of dipping into the semis (what with the best seasonal period for them coming up) at the end of the month, but made part of the plunge today with Jan 35 SMH calls. If the market is going higher, I would imagne they would participate, especially since they are so beaten down.

VIX higher today....hmmmmm.

10:18 AM  

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