MARCH PUNCHED

The end of the first quarter is done and this is how the various sectors perform (always good amusement). So far, its another year of the midcap and small cap growth with value lagging and for big caps- same old story- Oh and did I mention the Australian ETF? :

SPX FLAT

NDX +.9%

NAZ FLAT

DJIA -.9%

RUSSELL 2K +1.7%

MID CAPS +5.5%

WILSHIRE 5K +1.1%

SPX 100 -1.6%

Large Cap Growth FLAT

Large Cap Value FLAT

Small Cap Growth +6%

Small Cap Value -2.6%

SOX -.5%

HHH (internet etf) +6.4%

MSH (tech index) -2.1%

GOOG FLAT

AAPL +9.5%

MSFT -6.7%

CSCO -6.6%

XLE +2.8%

OIH +4.3%

VLO +26.1%

GLD +4%

SSRI +13.4%

EFA +4.2%

EEM +2%

XBD (brokers index) -3%

GS +3.7%

CME +4.5%

ICE +13.3%

MGM +21.2%

HGX (homie index) -7.4%

Trannies +5.5%

Airlines -9.8%

ITA (aero/def etf) +5.8%

EWA (aussie etf) +10.4%

RWX (non US real estate) +7%

Often Recommended Big Caps ("cheap on a relative basis"):

GE -5%, PFE -2.5%, XOM -1.5%, C -7.8%, BAC -4.4%, MO +2.3%, MSFT -6.7%, INTC -5.5%;

FLAT CLOSE

Markets are giving a tough time to folks who are trying to make a directional call as they go up, go way down and close flat. Geopolitical jitters, and the apparent fear of being short over the weekend seems to have caused some of the volatility as the DJIA traded with a 180 point range.

My screens have some fairly interesting data with real estate, metals, drugs/biotech generally green and finanicials, brokers, gaming and oils mainly red and techs mixed. In addition, growth over value, and light volume.

Market internals closed flattish on the NYSE and NAZ with the OEX 40/60 red and the NDX/ SPX closed 50/50.

IBD 100 stocks also 50/50 with MTOX MFW HURC HWCC RJET DLB and GROW UCTT HRT DXPE CYNO EDU MBT CTSH X and VCLK.

Key stocks generally flat to red with MER MS CME MSFT INTC AMGN IBB and GS LEH BSC BOT NYX ICE JPM MA WFC BAC GOOG AAPL.

Big cap winners include MEDI NSC NSM IP CAT EMC TYC BRCM WFMI TEVA LBTYA and DISH. Losers- CKFR JOYG PAYX WYNN DISCA ERTS ESRX ISRG SLB WMB BHI EP AES CVX and COP.

Volatility indexes down a bit but still trading between 5% and 10% above their various 10 day SMA's.

Next week - frankly, no idea but I have added to hedges via the QID, so still net long just a bit less as I suspect tricky trading for awhile.

NOON SWOON

Markets turned red around 11:30 EST on the heels of the announcement of new duties on Chinese imports, mideast headlines regarding the pricing of crude in dollars and a DEBKA report that " American investors in Bahrain advised to pack up business operations and leave."

The headlines from the mideast are from Briefing.com and I don't think have been mentioned on CNBC.

Anyhow, the DJIA is -34, NAZ-5 and SPX -6.

Strongest sectors include real estate, reits, aussies, biotech, metals and airlines- Leading lower, oils, gaming, utilities, banks, brokers and large cap value.

Strong stocks include MEDI IP CAT NSC NSM VZ BRCM MRVL DISH WFMI and LBTYA.

Weak ones include INFY SIRI ERTS CTSH ISRG WYNN CHKP CFR MXIM EXC WMB SLB BHI and ATI.

Market internals have flipped and show a net 350 red on both the NYSE and NAZ.

The OEX/NDX showing about 3 to 1 down with the SPX at 150 up and 350 down.

Obviously a wild day on the street in light of the geopolitical headlines as the DJIA has traded between +80 and -120. TV gurus seem to think the markets will close near the highs and I won't hazard a guess as a day like this could mean a close just about anywhere. I plan on no further trades on the day.

OPENING GREEN

Markets open higher with the DJIA +42, NAZ+5 and the SPX +3.

Strongest sectors include biotech, airlines, aussies, trannies, homies, small caps, brokers, retail and internets- Leading lower are oils and oil service on the heels of lower crude all the way down to $65.65.

Key stocks generally higher with MS GS MER C leading while BIDU NYX and TGT are red.

Market internals are very bullish with a net 1,200 green on the NYSE and net 600 green on the NAZ.

The SPX/NDX/OEX are all about 3 to 1 green to red.

Strong stocks include APOL BRCM MRVL WFMI UAUA MEDI NVDA CAT AA SLE NSC TYC NSM MMM and JPM.

Weak stocks include DELL HAL SLB PFE BHI CVX TFT S GE INFY CHKP and ERTS.

Volatility indexes down about 5% but still way above their respective 10 day SMA's.

I suspect the markets chop around most of the day with an upward bias and as far as next week goes its just wait and see for now.

GREEN ON THE SCREEN

The bulls finally showed in the last hour and took the DJIA back to +48 and got the NAZ to the flat line. The semis continued to lag ending down about 1% and probably getting into buy territory as they never go much lower or much higher.

Strongest sectors - emerging markets, oils service, banks, drugs, real estate, large cap value, defense and utilities. Leading lower, semis, brokers, metals, internets, airlines and tech.

Key stocks generally flipped the switch back to green as MSFT INTC BSC GS MS CME ICE C MA BAC all ended up while NYX BOT MER SMH GOOG BIDU were red.

Strong big caps included S HAL ATI SLB MRK RF MEDI AES PDCO DISCA LAMR EXPE JOYG and PCAR.

Weak sisters included MXIM LLTC LRCX SNDK PAYX MRVL NVDA NSM CSCO MER GM TXN F DOW- any pattern there?

Market internals closed strong with a new 700 green on the NYSE and flattish on the NAZ.

The OEX green on 7 out of 10 while the NDX was flat. The SPX also closed nicely with 320 green to 180 red.

Volatility indexes a little lower but still trading in buy territory near 10% above their respective 10 day SMA's.

Oh and market commentary, I expect the bulls are not done yet as the price of crude will probably come in from here as traders take profits. In addition, would anyone be surprised if Iran and the Brits settled up and the hostages were released? Those two things could send the SPX back up near the 1,440 level.

THE FADE

Markets opened at their highs and have faded since with the NAZ/SEMI sector dipping the most.

My guess is the bulls are not happy with this mornings fade as they wonder where the mark up folks/dippers may be. I am actually surprised by this reaction and expected a market ramp into the end of the month.

Strongest sectors include oils, drugs, real estate, large cap value, gaming and banks. Leading lower include semis, internets, brokers, tech, software, small caps, retail and metals.

Key stocks mainly lower with CME ICE in the green and SMH GOOG NYX solidly in the red. And just wondering how the guy who told Erin Burnett that the SOX index would double this year is fairing (Don Hays). The SOX index is down almost 2% today and has been crummy since about 2001.

Market internals also mixed with the NYSE +500 and the NAZ red 200.

The OEX with about 55/45 green to red; the NDX with less than 30 stocks in the green and the SPX about 50/50 between ups to downs.

The IBD 100 with 55/45 up to down as STLD MTL HWCC EVEP GROW and MIDD the best performers and SIMO DWSN WCG CPLA TZOO VSEA and ANST bringing up the rear.

Volatility indexes all trading near the unchanged lines.

HAPPY HAPPY

Markets are set to rip higher on the open as it looks like the 2 day RSI and the VIX/VXO buy signals that hit yesterday look like they are ready to clam victory again. The overseas markets are also strong with the CAC FTSE and DAX all way up.


One stock that I have had in the long term portfolio for quite some time is LSS- It is being taken out this morning at $67.5 or about a 40% premium as I shake my head wondering couldn't they have gotten it for $55 or $60. Maverick Tube, in the same line of business was taken out several months ago at a large premium and there were always rumors that LSS was next.

And how about T Boone Pickens- yes, he is bullish on oil.

HALF TIME

Markets have recovered almost 2/3's of the morning losses as the month end mark ups may finally be appearing. The NDX/QQQQ is almost flat and the Midcaps are again showing their muscle as they are down about .15% on the day; nevermind that they are up almost 6% on the year while the always recommended never performing big caps are red.

Sectors acting best include metals, silvers, integrated oils and utilities. Weakest groups include homies, emerging markets, brokers, airlines, semis and real estate.

Key stocks turning greener with GOOG MSFT NYX ICE C MA TIF all flat to green while most of the brokers are still solidly in the red.

Market internals well off their lows with about 1,000 net red between the NYSE and NAZ while the OEX is 25/75 up to down and the NDX 45/45; so strength is in the NAZ.

Volatility indexes hit the magic 10% above the 10 day SMA and went on buy signals while the 2 day RSI's also hit oversold levels of under 10 on the IWM SPY etc.

I have been scaling in to some longs over the last few days and unfortuneately jumped the gun a bit on some ETF's. I continue to expect higher prices into month end and we may even get some unexpected good news on the oil/housing front that will take us higher.

THE HEADACHE

Markets are down again on the heels of some crummey news out of the homie sector and some "issues" between Iran and the UK/USA.

Strongest sectors inlcude metals, integrated oils, utilities and internets while gaming, real estate, airlines, trannies and brokers are the laggards.

Key stocks primarily red with the exception of GOOG MSFT NYX and C. All the brokers are lower despite a morning upgrade.

Market internals are very red with a net 2,000 red between the NYSE and NAZ. The OEX/SPX/NDX are a hair better than 4/1 downs to ups. IBD stocks with about 30 out of 100 higher.

Volatility indexes getting overbought again as the VIX is up about 8% while the VXO is higher by almost 11% and trading about 5% above their respective 10 day SMA's.

Is it me or are the CNBC segments just getting worse and worse- 6 in 60 and the new contest where each program has a B grade actor/trader" that they root for and insist that he/she will eventually overtake and beat on the other traders. Johnny Bench remains in 10th place but Erin insists he will eventually win. Just moronic stuff.

Its almost like they could put a guy on TV for an hour every night, have him pick 3 or 4 different stocks each night, and then insist he will make you some "mad money." And is that Nutrasystem commercial the worst and most annoying ever. Brutal.

CLOSING ISSUES

Definitely one of the more boring days on the street as the DJIA closed down 72, NAZ -18 and SPX down 9. Surprisingly, mid caps were the best performing major index with the RUT being the bottom performer. Note the Middies are up almost 6% on the year while the OEX, the biggest SPX 100 stocks is down on the year.

Strongest sectors included biotechs, oils, semis and internets while the worst groups were gaming, metals, real estate, homies, trannies, airlines and brokers.

Market internals were lousy all day closing with a net 2,300 red on the NYSE and NAZ.

The OEX/NDX/SPX closed with about 4 down for every one up.

Strong stocks were AMLN MEDI ERTS SYMC LBTYA MICC AMZN XOM AES and S while DD MDT CPB TYC MER WY PCAR WYNN PAYX and INFY were among the worst.

Volatility indexes generally higher by around 5% with the VIX/VXO tandem trading about 5% below their respective SMA's.

I still suspect the markets will put in a decent rally before the month ends but today was not the day.

HALF WAY

Markets continue to bounce around near the lows with the large cap value stocks acting the best of the bad.

Strongest sectors include biotechs, xchanges, semis, tech and oils. Leading lower are gaming, homies, metals, Aussies, real estate, retail, trannies and brokers.

Except for the aforementioned xchange stocks BAC and AAPL, just about all other key stocks are lower.

Market internals are net 2,500 red between the NAZ and the NYSE while the OEX/NDX/SPX indexes are showing about 4/1 red. The DJIA with 4 in the green T VZ MO and XOM.

IBD stocks also about 4/1 red with RVSN ICE ALB BWLD CYNO GRT and HURN ALGT LVS BTJ TPX GROW SPTN.

Strong stocks include AMLN MEDI LTBYA INTU ERTS SYMC DELL BAX NSM and XRX.

Weak stocks include DD TGT MDT WY GM TYC HD HON MSFT WYNN PCAR MNST and PTEN.


Volatility indexes up between 4 and 6% and they sit between the recent range.

I anticipate the bulls will take em up this PM (month end/quarter end/retirement money) and have bought some index etf's for a quick trade. In addition, EWA is getting beat up and I am dipping in that space (slowly) for more shares.

LOWER OPENING

Markets open lower with just about all major sectors in the red.

Strongest sectors include semis, biotechs, software, and the oils; leading lower are homies, aussies, gaming, airlines, metals, retail and small cap value.

Best performing stocks include CVNO ICE RVSN LHCG ZUMZ PCU MEDI ORCL T NSM S and ETR.

Weakest include GM WY MDT CPB DD CSCO WB LEH WMT TGT NVDA MNST and XMSR.

Market internals, very weak with 1,500 net losers on the NYSE and about 1,000 net red on the NAZ.

Major indexes show 5 t0 1 down to up on the NDX; 10/1 down to up on the OEX/SPX.

Volatility indexes, up around 5% and still no where near a buy signal.

My take, they will again try to take them up before the day is over as the mark up guys see opportunity. Also, the exchanges and the semis are trading higher so maybe a little "tell" of what the afternoon may bring.

The 2 day RSI on the DJIA, in the 20's so probably not the worst place to take some equities; and how about that Cramer suggesting to buy lower- did he forget his strategy of buy high and sell higher- well Never mind.

CLOSING MARK UPS

Markets closed near the highs of the day as traders/investors/markerupperers quickly forgot the lousy housing numbers.

Strongest sectors included metals, oils, internets, Australia, tech, drugs and utilities. Leading lower were airlines, real estate, trannies, homies, brokers and financials.

Key stocks were mainly lower with the exception of NYX and tech such as AAPL GOOG MSFT.

Market internals closed near the flat line after being way red earlier in the trading day. The OEX/NDX/SPX were all near the 3 down to 2 up level with the NDX the greenest.

Volatility indexes all near the flat line after being 15% higher at the market low.

Winning stocks included EBAY DELL JNPR AAPL LINTA PTEN MEDI and CTSH while losers were UAUA CELG FAST MNST EXPD BBBY ALTR MRVL and MICC.

IBD 100 stocks were about 50/50 between green and red with GROW MTOX DXPE HRT LHCG EVEP MFW and SPTN the big winners; big losers included WFR TELN LFL ICE DSW RVSN and BDC.

Nice day on the SPX as the market opened near the high, dropped about 15 points on the housing news, and closed at/near the high as the markerupperrers found a great excuse to drive prices higher. Housing/shmousing, its the end of the month/quarter and the markets are down so a great time for the funds to drive em up. And it probably continues for the rest of the week as this is a perfect setup.

HALF TIME

Markets remain lower although well off their lows with the NAZ and the small caps outperforming.

Strongest sectors include metals, oils and internets while airlines, trannies, real estate, homies, banks and financials are leading lower.

Key stocks are all lower with the exception of NYX and AAPL.

Strong stocks include ABT DELL DOW MEDI TWX T CVX and EP while S NSC MDT VZ WY LEH BDK HON FED are weak.

Market internals are improving and now show a net of about 1,500 red between the NYSE and NAZ.

The OEX/NDX/SPX show similar with about 3 stocks down to every 1 up.

Volatility indexes up about 7% after being up 15% a the lows of the day. Keep in mind that they still trade under their 10 day SMA's.

For anyone looking for some long term stocks, I suggest checking into BAM FCE.A FLA RWX and EWA. Marty Whitman's fund just came out with their January 31 report and they have added about 580,000 shs to their FCE.A holdings; and they own over 21% of the company.

OPENING LIMP

Markets open mixed with the NAZ/Small caps outperforming. Homie news just released and market heading lower (DJIA down 80 on the news).

Strongest sectors include metals and oils while leading lower are airlines, homies, trannies, finanicials, brokers, biotech and real estate.

Key stocks are all lower with MSFT MS MA biggest losers.

Market internals started up flat to green but have since flipped on the housing news with about 1,700 net losers on the NYSE/NAZ while the OEX/NDX show about 4/1 losers to winners.

IBD 100 shows about 40 out of 100 in the green with GROW DXPE LGCY LHCG and MTOX leading while LFL ICE POT ACH BCD CBG TELN and CNH are soldily red.

I suspect this little downdraft is a buy as the mark up boys/girls start to show and give some jig to the market before the week is out. Yes, Art Hogan from JEF is bullish so probably right back up we go.

MORNING UPDATES

Markets look to open slightly higher on the heels of advancing prices in Europe and no weekend disasters (as usual).

Barrons bounce probably coming in SBUX ANH and NLY and one buyout with BEC buying BSTE at a huge premium. And another year on the Best CEO list for the unknown Bob Simpson at XTO. A shark long term favorite.

Gapping up- BSTE OSIR ALXA IDEV ISIS BQI MEND EPL STEM TRB ALU DNDN and GROW- Gapping down- PGIC BEC AGR CVTX LSI BSX and PALM.

On the wires- DCX removed from focus list at JPM; GS cutting INTC estimates; BofA upped tgt to $62 on ABT; LINTA upgraded to overweight at MS; TIF beats and guides up forecasting 11/12% sales growth;