7.21.2009

MORNING THOUGHTS


Markets are muddling along with the DJIA leading and the NAZ/NDX lagging-


SPX +1, DJIA +58 and NAZ -3.


Strongest sectors- ags, materials, biotech, oil service and drugs while banks, semis, real estate and metals lag.


NYSE- 150 net green;

NAZ- 475 net red;

NDX- 38 GREEN;

SPX 225 GREEN;


VIX- flattish at 24.7;


Gold crude etc flattish while the dollar is flat lining after dipping earlier.


Looking for selling this afternoon as lots of folks have lots of gains to protect and we remain very overbought.



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