7.02.2010

THE SLOP


Equities are trading near the flat line with oil service, biotech, metals, junk and emerging markets leading while gaming, reits, homies and trannies lagging.


NYSE internals flat while NDX/SPX a little to the red;


Gold higher and over $1,200;


10 year Treas note - rate back up to 2.97%;


The much discussed DEATH CROSS just happened as the SMA 50 is now under the SMA 200- I think more importantly the support and resistance areas:


SPX 1010 area is the level where we got a nice bounce yesterday and I suspect any time we approach that level we will bounce- of course resistance at the old support area of 1040-


Kudos to Greg Valliere- for not towing the GOP line and calling them on the carpet for not extending the unemployment benefits - bottom line it hurts the economy and puts more folks into poverty.


Its very unfortunate - but politics has turned into I just want my party to win no matter what the ramifications-




3 Comments:

Blogger tamworth said...

There's not a limitless supply of resources. At some point the piper needs to be paid. Folks want to just keep handing it down to the next generation. I really don't care because I have no kids, but if I did I would be livid about now.

2:29 PM  
Blogger Jimmakos said...

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9:25 AM  
Anonymous QUALITY STOCKS UNDER 5 DOLLARS said...

A very steep slope.

5:03 PM  

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