2.17.2009

THE OPEN


Markets, as expected, crushed in the opening 30 minutes of trade as all sectors except gold are lower.


SPX -33 and NAZ -60.


Worst sectors- shipping, ags, financials, energy and brokers.


NYSE- 2455 net losers;

NAZ- 1640 net losers;

NDX/OEX- 2 GREEN on each;


GOLD at $970;


VIX - higher by 19% at 51;


Down volume about 20x the up on the NYSE'


TRIN- 1.6;


We have broken below 800 on the SPX and way below 1200 on the NDX- not expecting much of a bounce today but shortly as markets are way oversold yet again- and betting short from these levels hasn't been a winning trade.

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