9.24.2010

THE TEPPER


Animal spirits out this morning as David Tepper - pumps up the market with his theory - economy strengthens - equities go up - economy weakens and FED does QE - equities go up- so his declaration of no risk to owning equities and another - tidbit from him - if the SPX goes to 1000- I will be 100% in equities - OK - he has a great record so I understand the ramp.


At 11.30 Eastern time- SPX +21 @1146 - probably finds lots of sellers at if/when 1150- NAZ +44 @2371 and the DJIA +180 @10840.


Strongest sectors- gaming, semis, oil service, homies, internets and brokers while nat gas, bonds, metals, junk and ags lag.


NYSE- 2070 net winners;

NDX 97/3;

SPX 490/10

RUT 1725/125;


VIX- down 8.5% at 21.8 and a bit below the SMA 10;


Gold - up $3 at 1297;


Silver +1.2% at 21.4;


10 year Bond - rates flying higher at a whole 2.617%


RSI 2 levels as follows:


SPX 77;

NAZ 85;

DJIA 81;

RUT 70;


Pretty interesting that with this ramp this morning we still aren't near way over bought levels on major indexes - also expecting a ramp later in the day with a close at/near the highs with SPX 1150 well within sights.

1 Comments:

Anonymous QUALITY STOCKS UNDER 5 DOLLARS said...

A well done post.

1:14 AM  

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