2.11.2009

CLOSING LUSTER


After chopping around most of the day with a slight bullish bias, markets closed the day slightly green with the SPX +6.6 and the NAZ +5.75.


Sector strength found in metals, financials, real estate and drugs while semis, energy and tech lagged.


Market internals were a hair better than flat - with S's over N's.


Gold and oil were the big stories as the shiny metal closed at $940 up $24 while crude was down $2 at about $36-


The dollar and the EURO were pretty flat on the day so know hint there as to why the commodities acted the way they did.


This fish still bullish on gold but a bit over bought here and crude and energy stocks- I think its still a buy the dip there.

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