12.11.2008

NO DEAL


Seems like old times as the markets turned down near the midday and never looked book- adios to support at SPX 885 - not sure where next support is on the SPX but I still think the buyers will step up and turn the beat around.


Drugs, energy and metals were the best sectors while real estate, banks, shipping and homies lagged.


NYSE- 1700 net losers;

NAZ- 1400 net losers;


VIX- hardly moved - sitting at 56;


Fairly low volume with under 1.5 B shares traded.


Looking to buy DIG SSO on further downside action- back to SPX I guess 850/860 could be the next support area. Clearly, 905/910 the upside top - and hopefully we get back there shortly.
RSI (2) levels near 20- and that buy low sell high system has been doing ok of late.

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