12.05.2008

THE OPEN


Markets are down on the horrendous jobs number and where exactly is the labor Secretary Elain Chao? In hiding with dubya and a proud fellow SHS grad.


Strongest sectors include brokers, drugs and real estate while metals, oils, trannies and homies lag.


NYSE- 1750 net losers;

NAZ- 1100 net losers;

NDX- 5 GREEN;

OEX- 6 GREEN;


VIX- higher by 3% at/near 66;


Small caps doing far worse than big and down volume about 7x the up.


Original thought was that the number could be bought and if you were very quick - it worked- new theory for the day - take it off as lots of cross currents from buy the dip to a worsening depression. So yes - taking the rest of the day off.

2 Comments:

Anonymous Anonymous said...

Great advice. Although their trying, even the CNBC perma bulls can't spin the horrendous US job loss.

10:31 AM  
Blogger DAVID said...

Y its gonna be tough-

10:34 AM  

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