5.30.2008

THE OPEN


Markets open mixed with the DJIA -7, NAZ +9 and SPX +.5.


Strongest sectors solar, metals, ags, steel, tech and oil service while banks, gaming, real estate and biotech lag.


Key stocks- generally higher led by NVDA MON TIF MA V and POT while MER WYNN ICE BAC DECK MCD and LVS lag.


NYSE- 180 net losers;

NAZ- 240 net losers;

NDX-50 GREEN;

OEX-55 GREEN;

IBD-65 GREEN;


VIX- flat at 18;


TRIN .76 Up volume slightly better than down;


NDX leading the way higher on the heels of good news from DELL and MRVL- however note the recent high in the QQQQ at the $50.5 level and not far from there now.


SPX - flattish with energy higher and financials lower- with all the big banks trading red cept for C which is flat.


I thought we would get some jig today with the EOM marker upperrers coming in but so far doesn't look like it and have bought some SKF as when these financials start out weak they generally end weaker.

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