Markets open higher but a close look 30 minutes into trading makes me think this isn't going to hold. The financials started strong on the BSC news but have since flipped to red - check XLF BAC C CFC MA WB WFC BEN ETFC LEH LM MER TROW ICE all red. BSC opened higher and has flipped to red as folks look a bit closer at the huge loss.
Strongest sectors- internets, tech, airlines, reits, gaming, semis and large cap growth while metals, trannies, banks and retail lags.
NYSE- 525 net green;
NAZ- 460 net green;
NDX -70 GREEN;
OEX-60 GREEN;
IBD 100- 70 GREEN;
WINNERS- HRBN SNCR VIP CF RIMM AGU MEE LEAP ORCL CTAS INFY CTSH GENZ ATVI AKAM NXY BAX XRX CI IBM RTN MSFT DELL;
LOSERS- MER AXP WB LEH TGT FDX CELG EXPE PAYX MICC BBBY GSOL ATLS SYNA SNDA SID FTK PCLN DSX;
VIX- down 2% and trading at 21.25 -5% below the 10 day SMA;
The EWA is off about $1.4 but it went X DIV today and a distribution of $1.277 is due on January 2, 2008.
I don't expect much in the way of trading and may head out early to take care of some other business.
