5.21.2009

MORNING TRADE


Markets have headed straight down since the open and as I type the DJIA is -160, SPX -18 and NAZ -40.


Strongest sectors- drugs, retail, fins and real estate while materials, energy, trannies and homies lag.


NYSE- 1800 net losers;

NAZ- 1350 net losers;

SPX- 47 GREEN;

NDX- 8 GREEN;

RUT 2K - 250 up 1600 down;


VIX - about 31 and 6.6% higher on the day and a hair under the SMA 10;


RSI (2) on most major indexes at/near 15;


Still looking to buy a bounce for a quick flip but so far no dice- its coming as we wont go straight down - and it will be quick.

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