8.25.2008

MIDDAY PEAK


Markets continue lower the sell off being broad based as none of the sectors I follow are in the green-


Best- oils, metals, shipping and drugs while gaming, steel, financials, small caps and trannies are the worst.


Market internals continue to slide with almost 3,000 net losers on the NYSE/NAZ;


The DJIA with one winner (C) and 29 losers led by AIG BAC JPM AXP AA DD MCD CAT GE;


The IBD 100 group has also slid to 20 stocks in the green led by ENSG CYBS AFAM TESO PVA CF;


Checking key stocks among the various sectors- almost all red with OXY the sole winner;


Strategy- its days like this that generally close at/near the lows so I am looking to short the blips and ignore the dips for now.


And where is the guy with the GOP on his badge saying the market rallied on Friday because Biden was a lousy choice for VP? Is he now a good choice?

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