3.09.2009

THE USUAL CLOSE


Markets closed near the lows yet again as a late date push fizzled out - the SPX -7 and the NAZ 25.


Strongest sectors- banks, real estate and energy while biotech, telecom, metals, and utils lagged.


NYSE/NAZ 2500 net losers;


NDX - 15 GREEN;

OEX - 30 GREEN;


VIX- flat at 49.7;


Crude- holding up the energy stocks with a gain of $1.63 at $47.15;


Another awful day for equities as this market never seems to let any one sell on an up day - rare to find one-


RSI (2) levels under 15 on most indexes;
I guess Doug kass now officially wrong as the market didn't bottom three days from last Monday- tough to be the accurate - but why try?


Tomorrow the bulls can root for turnaround Tuesday - and Cramer - picking stocks for when the DJIA hits the 5,300 level- thanks.

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