8.24.2009

THE OPEN


The bulls continue to be in control this morning as equity markets open higher - following the lead from Asia and Europe.


Strongest sectors- gaming, nat gas, silver, banks, energy and metals while retail, internets, drugs, biotech and real estate lag.


NYSE- 1300 net green;

NAZ- 800 net green;

NDX- 61 GREEN;

SPX- 385 GREEN;


VIX- higher by 1% at 25.3;


TRIN- .37 with up volume 10x the down.


For now- folks want equities - and markets are over bought with RSI readings over 95 on the SPX and the major market indexes.


No great insight except keep buying the dips until it doesn't work.


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