1.15.2009

THE OPEN


Markets open down with the financial sector leading the way as usual. The DJIA -100, NAZ 12 and SPX 12.


Strongest sectors- retail, semis, biotech and gold while banks, telecom, shipping and real estate lag.


NYSE- 1600 net losers;

NAZ- 630 net losers;

NDX- 30 GREEN;

OEX- 15 GREEN;


VIX- higher by 5.5% at near 52;


Down volume about 8x the up;


Big losers- BAC C RF WFC MA GS XRX USB VZ AAPL LEAP ADSK YHOO WYNN STLD LAMR GOOG;


More big losers for the first 15 days of 2009:


GS -16%;

IYR -18%;

HUI -18%;

BAC -40%;

C -40%;

GE -16%;


Hard to believe that after such a disaster in 08 - the big banks are doing even worse for the first 15 days of 09-


No turn around yet in the equity indexes as they just go lower and lower - soon we get a violent rally - just don't know from where.

2 Comments:

Anonymous JJ said...

"soon we get a violent rally - just don't know from where"

I am speculating a turnaround around 815-820 on SPX. Buying with stop loss at 805.

10:34 AM  
Blogger DAVID said...

As good as any idea- also we may find DJIA 8K as support.

10:40 AM  

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