10.31.2008

WICKED MOVES


Markets got a bit volatile into the last hour but dip buyers were rewarded all day. I guess today's market was designed for Tommy the Trader!!!- just don't overstay the welcome.


Strong sectors- gaming, shipping, homies and brokers while metals, utils, telecom, emerging markets and tech lagged.


NYSE- 1425 net winners;

NAZ- 1500 net winners;

NDX- 60 GREEN;

OEX- 70 GREEN;


VIX- down 3 and 5% - under 60;


Up volume 3X the down;


Looks like a buy the dip market for now - just don't overstay the welcome as the market can move very very quickly- Surprisingly AAPL GOOG closed lower while GS was flat- a bit unusual for a big up day.


Monday another day and for now its one day at a time.

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