Here we go again as the George Costanza world continue to operate on Wall Street as folks do the reverse of yesterday which was of course the reverse of the day before.
Banks(+5%) and brokers (+4.6%) leading the way with homies, insurance and retail right behind. To the red side- oils, metals, ags, defense and utils. Small cap value +2%;
Market internals rapidly improving with 1,500 net gainers between the NYSE and NAZ;
NDX -83 GREEN;
OEX-78 GREEN;
Biggest winners- MER MS S C LEH COF AXP RYAAY FMCN EXPD SHLD FAST APOL RIMM CHKP VRSN MA V DECK GE;
Biggest losers- BIDU BG APA GG XTO AA IP MMM EP HON TWX JOYG NIHD SNDK INTU SIAL MRVL AMGN;
VIX- down 9.5% at 27;
TRIN-.86
Up volume 2X down- on abut 1.5 Billion shares traded (huge expiration);
Euro starting to strengthen again vs. the $$$.
SPX again over 1,315 and am a bit more optimistic than yesterday about higher prices a week from now - although it is expiration.
