9.15.2009

MY TAKE


Choppy and sloppy this morning with the Naz out performing the SPX - NAZ +3 SPX -2 and DJIA -5.


Strongest sectors- gaming, nat gas, metals, homies, ags and junk bonds while drugs, oil service, retail and real estate lags.


NYSE- 360 net green;

NAZ- flat internals;

NDX- 48 GREEN;

SPX- 215 GREEN;


VIX- flat at 23.85;


TRIN- 1.51- up and down volume about equal-


Metal stocks trading higher despite the flat spot gold- silver up near $17 while nat gas continues to out perform crude.


Many stocks in the key sector area trading red including C SLB LLY AMGN COP JPM PFE HD CVX VZ XOM WMT MON PG BAC KO MMM GS UPS UTX and they are all down from the open.


RSI 2 levels - high 70's on the SPX and mid 90's on the outperforming NAZ/NDX.


RUT also a winning sector with a reading of 94.


I suspect we get the usual afternoon ramp and I am sitting on my hands waiting for a little PM fireworks.


2 Comments:

Anonymous Anonymous said...

Hope this market isn't the new normal. This is terrible to trade.

Go Gators

3:21 PM  
Blogger DAVID said...

Agree- hard to believe but I think we pull back a bit here

4:01 PM  

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