THE DOUBTER
Markets did what they usually do on day like this -close at/near the highs with the SPX +27, NAZ +63 and the DJIA +257.
Strongest sectors- Brazil, materials, metals, semis, homies, banks and techs while bonds, drugs, junk, retail and trannies lagged.
NYSE- 2450 net green;
NAZ- 1700 net green;
SPX - 477 GREEN;
NDX- 94 GREEN;
VIX - higher by 3% at 25.9- VERY STRANGE;
TRIN- .35- with up volume about 25x the down and heavy at 1.4b shares.
Everyone asking if the rally has legs- - prediction from this fish -- SPX 899 before SPX 1075- out on the limb-
Markets over bought and way so - try to take some off before the week ends as the jobs number is coming up and we are bound to have some ugly earnings numbers- and of course talk of health care and another stimulus- straight up highly doubtful.
posted by DAVID at
4:06 PM
2 Comments:
I am liking the 899 prior to 1075 call, bear market and nobody gets out alive, tiring tape none the less
y I think that is a pretty easy call- problem will be No one will want to buy the dip AS USUAL
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