9.08.2008

THE TREND


Markets continue to confound most traders as we are well off the lows and the highs with the homies, banks, real estate, retail and utile leading while metals, oils, steel, ags and tech lags.


NYSE- 775 net winners;

NAZ- 425 net winners;

NDX- 45 GREEN;

OEX- 80 GREEN;


VIX +2% with the DJIA +170- a bit unusual;


Three big horses on the NAZ all trading ugly GOOG $420 -5% and looking a three handle - AAPL -3% AT $155 and RIMM down 6% at par;


The trend seems to be down on the day with pullups worth shorting - just could get tricky- still no great confidence either way.
And for what its worth- the best sectors per IBD:
MEDICAL RETAIL FOOD ELECTRONICS SCHOOLS LEISURE and INSURANCE-
TOP 10 IBD Stocks:
TITN CNQR CMED EZPW APEI DXPE ISYS BKE BABY QSII AFAM;

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