7.22.2008

MIDDAY MARKETS


Markets are mixed as the DJIA is +33, NAZ -6 and the SPX +.4 - note the strength in the RUT as it is +1.25%;


Strong sectors- brokers, exchanges, trannies, banks, biotech and gaming while semis, energy, metals, steel and tech lag.


NYSE- 525 net winners;

NAZ- 600 net winners;

NDX- 55 GREEN;

OEX- 65 GREEN;


VIX- lower by 2.5% at 22.5;


Up volume 1.5X down;


CRUDE/NATTY GAS continues to get hammered as demand destruction and a hurricane miss rule the day;


Equities looking strong as crude gets crushed despite the fact Boone is long and expecting much higher prices- my guess -not today's business- and Dennis Kneale yapping about what a great long term business tech is- I guess he hasn't checked the tech charts over the last 10 years.

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