11.18.2008

CLOSING RAMP BLAH


Markets closed in the green as the final hour found a nice rally on this typical Turnaround Tuesday-


Sector strength found in oils, drugs, large caps, tech and homies while shipping, brokers, semis and financials lagged.


Awful internals with this turnaround as the NYSE had 825 net losers and the NAZ with 600 net red.


Stronger volume with more down than up and note the RUT/MID's closed red.


VIX- lower by 2% at near 67.65.


Not expecting much continuation to this rally for obvious reasons- and the next shoe to watch is the auto sector as something needs to give soon- just wondering if the worst auto news is baked in the markets cake.


BESPOKE- with more interesting tidbits.

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