2.12.2009

MIDDAY VIBES


Most of the major indexes are shaking off the lower open as tech tries to lead us out of the doldrums. The DJIA is irrelevant IMVHO and when/if it breaks through the old lows the other indexes probably will not.


One strategy - long QLD/DXD and that trade has been working for a while-note the action in RIMM AAPL GOOG - all green;


Strongest sectors- biotech, semis and tech while banks, real estate, homies, brokers and utils lag.


NYSE- 1300 net losers;

NAZ- 450 net losers;

NDX- 45 GREEN;

OEX- 15 GREEN;


VIX- flattish at 44.25;


TRIN- 1.3;

TRINQ .67


Up volume ahead of down on the NAZ and down about 3/1 over the up on the NYSE- interesting;


WINNERS- KO QCOM UNH AAPL GOOG AVP NTAP IACI VRTX ADBE ISRG BRCM FAST RIIM BIIB;


LOSERS- JOYG APOL AMAT FMCN PCAR WFMI WFC USB RF BAC AXP BK JPM COF NYX BNI BHI;


RSI (2) levels -


SPX 20

NAZ 24

NDX 31

RUT 19

DJIA 17

XLE 9

OIH 11

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