OK, I will declare that call earlier today to be pretty pretty good as the DJIA did a 600 point turnaround. Hard to believe that the DJIA could be +300 and the NDX/QQQQ could close red - but it is what it is.
Strongest sectors- homies +9%, reits+9%, banks+8%, airlines+8%, trannies+7%, retail+4% and utils+4%- losers- gold bugs-2.2%, biotech-2%, drugs-1% and tech-.4%;
Key stocks- yikes 27/40 green led by UA LVS WYNN GRMN BAC C INTC MS MER MA- losers- AAPL GOOG AMZN VMW RIMM POT BG BIDU DECK BG;
NYSE- 1500 net winners;
NAZ-630 net winners;
OEX-75 WINNERS;
NDX-70 WINNERS;
IBD 100-45 WINNERS- (lotsa metals/oils)
VIX- down only 7% which is actually pretty encouraging;
Up volume about 3X down volume on a total of 2.7B;
TRIN- 1 EVEN;
And how bout that near $14 turnaround on the OIH- not giving up on oils yet- I suspect there will be continued demand in emerging markets for the balance of the 21st century.
WINNERS- TTES WMS SONO SXE MA UAUA EXPD WFMI EBAY WYNN SIRI GRMN SHLD PCAR BBBY JPM COF WB RF WFC NSC BAC C TYC BDK STT NYX ORCL GILD;
LOSERS- FSLR VMW XTO CNH AMZN MTL DLB FSIN HMSY KOP AAPL GOOG EMC ATI MRK CI AVP VRTX NTAP BRCM LEAP SNDK VRSN;
So a big HIP HIP HOORAY for the NYS Insurance department as the rumor of a bailout causes "some" of the market rip.
First stop on the SPX - could be the 1345 area which is the first FIB retracement area off the 1,270 low of earlier today. GS also at 205, 50% retracement.
And how about this one from Jimmy, exactly incorrect - bullish on tech bearish on retail. The usual.
