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Tuesday, December 9, 2008

Count Dracula And The Bride Of Frankenstein

This is one of the scariest pictures I have ever seen (Wall Street Journal).

The market got a gap down today as the dollar moved up, but it quickly reversed. (US Dollar, 10 day 30 minute). The SPX has successfully retested the low of the day (894, and is now headed back up. The Nasdaq is stronger, and the Nasdaq 100 is in positive territory. The Russell 2000 is lagging the Nasdaq a bit, but leading the SPX. Energy is the strong sector, financials and consumer discretionary weak.

There is one breakout so far, CSKI, and one potential breakout, OCN. SBX, a recent IPO, is at a new high.

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