2.21.2008

SAME OLD SAME OLD


Here we go again- different day same result- the market gaps open higher and turns around and heads straight down. So far a range of 175 points on the DJIA-so also another big range day but in the opposite direction of yesterday- so far.


Strong sectors- metals, semis, telecom, ags, tech and homies while oils, biotech, banks, gaming and airlines lag.


Market internals have flipped to red with 825 net decliners on the NYSE/NAZ.


NDX-30 GREEN;

OEX-20 GREEN;


DJIA 10 GREEN;

Down volume about 2X Up volume;
And of course 1,360 rejected again on the SPX- and when is that coiled spring going to pop?

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