2.27.2008

OPENING BATTLE


Markets open lower on the heels of crummy durable order numbers and an over bought market. The DJIA -40, NAZ -9 and SPX -5.


Leading sectors include homies, metals, semis and defense while airlines, ags, gaming, retail and drugs lag.


Market internals near the flat line as some buy programs hit as I type and as Bernanke stuff gets released.


Key stocks mostly lower led by BIDU RIMM CELG C GS MTW DECK on the up side and UA TIF MA AMZN VMW INTC on the downside.


WINNERS- BIDU HANS XLNX APOL CELG LLTC ALL AA S GM DD GS C LDQX CEDC AUY BABY ITU GGB;


LOSERS- ENS TKC WFR DSX CTRP FCSX MA CHTT ADSK LAMR UAUA LEAP NIHD COST AKAM FWLT CBS WB AMGN BNI MRK AES;


Internesting how the recent losers such as GS BIDU GOOG LEH MS C are higher while the markets are red but improving.


Watch the key 1,367 level on the SPX as that area should provide support. To the upside- 1,390/1,395 should cap pushes north.


While perusing Forbes this morning, I found a few articles that looked interesting. One on REITS, one on High Yield funds and a third on FTO. Check out this little fact on GLD which seems to be headed for the 1k mark. And who would have thought this stock wasn't recession resistant or this guy would be looking for interns.

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