11.04.2008

AFTERNOON LULL


Off the highs but still pretty pretty good as the DJIA is +260, NAZ +50 and SPX +34.


Strong- metals, oils, ags, emerging markets and telecom while biotech, small caps, drugs and utils lag.


NYSE- 1800 net green;

NAZ- 870 net green;

NDX- 80 GREEN;

OEX- 96 GREEN;

DJIA -29 GREEN;


VIX- 46.3 and down 13.75%;


Up volume about 8x down;


Roger with some election day thoughts - and agreeing with him on the eventual turn;


Nouriel on China;


The worst of times from BESPOKE;


The October surprise;


And the morning parrot still waiting for the tightening;


Looks like the market has been temporarily rejected at the SPX 1K number but I suspect that gets taken out before long and then next intermediate stopping point appears to be near the 1050 line.