7.23.2008

MORNING WHIP


Markets are mixed with the tech group doing better and the energy moving lower- seems like equities moving in lock step with crude which seems again to be heading lower.


Strong sectors- gaming, banks, internets, retail, telecom and homies while energy, metals, utils, trannies and brokers lead lower.


NYSE -500 net winners;

NAZ- 400 net winners;

NDX/OEX about 60% of components trading green;


VIX- flat at 21.25;


Up volume about 2X the down;


Not going to get too excited either way today as I expect the markets to oscillate with tech/NAZ leading and energy lagging-


Note the markets are way over bought short term - and how are the strategists looking at end of year forecasts now- kind of funny.


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