7.28.2008

SWOONING


Markets continue to trade lower with the NAZ/NDX leading the way down while the Midcaps act best.


Strongest sectors include metals, oils, steel and utils while brokers, banks, internets and homies act worst.


More than 1,000 net losers on both the NAZ/NYSE;


VIX- higher by 5% at 24+;


Down volume now 2X the down;


so far 1245 not holding as we are trading a hair under and if the general rule holds- (markets that are weak all day- blah blah blah) it could get ugly. Maybe the SEC could find a way to just ban selling as a new answer to these ugly markets.


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