2.08.2008

AFTERNOON LOOK


Tough for the markets to rally with the financials acting so lousy. And that is what we have with all the big banks and big brokers low. Tech is primarily green as are the metals and oils but keep one eye focused on the XLF as that most likely will give us the ultimate direction of the major indexes.


Market internals also flipped to solid red so if you are trading the long side, keep it quick.


VIX/TRIN also giving bearish signals;


Down vol not quite 2X up volume;


Strong stocks- MTL AUY SWN MON ART URBN RIMM BOOM CTSH EXPE INFY AMZN HPQ XRX MCD GOOG AA AAPL SLB UA TIF MA MSFT KO;

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