3.23.2009

MORE ROCKET SHIP


Markets are off to the races on another weekend government plan to buy toxic assets from the banks. Haven't we seen this movie before - anyhow SPX +25 and NAZ +43.


Strong sectors- energy, financials, brokers, real estate and homies while gold, drugs and utils lag.


NYSE- 2425 net winners;

NAZ- 1600 net winners;

NDX- 95 GREEN;

OEX- 95 GREEN;


VIX - down 5% at 43.67;


TRIN- .29 Up volume 40x the down;


Gold/Crude flat;


Market participants not asking for Geithner's resignation today - as we continue to soar higher as I type- levels to look for - 800 on the SPX is level number 1 and after that 805- which is the recent high area and where the market met swift rejection only a few days ago.



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