4.10.2008

Midday RAMP


Markets have moved up nicely after hitting an early low of 1350.11 on the SPX- and my trade from yesterday afternoon SSO- is looking pretty pretty good.


Banks and brokers have flipped to green (cept GS) with nice moves in C JPM MTB USB WB AMG LM and TROW;


Tech all green (cept MOT SNDK) with SMH AMAT BRCM INTC NVDA TXN YHOO acting very well;


Equities moving up with the dollar while metals/crude/EURO moving down;


NYSE- 1010 net winners;

NAZ-660 net winners;

NDX -85 GREEN;

OEX-80 GREEN;

IBD 65 GREEN;


VIX- down 3.5% at 22;


Up volume almost 3X Down volume;


Obvious areas where sellers may appear SPX 1380 and DJIA 12700- and VIX -26.


Sitting tight now with the longs and watching as I expect the close may be at/near the highs- which is usually the case on strong days.

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