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Monday, February 9, 2009

Slow Monday

We are now one hour into the trading day, and everything is as clear as mud. The market got off to a slow start, but the SPX has bounced off 861 and is rallying. The Nasdaq is performing about on par, the Russell 2000 is underperforming, as is the DJIA. XLE is the strength today, with oil up. XLB, XLF, and XLI are positve. XLU is the weakest sector, but XLP and XLY are also lagging badly. TNX is now up 1.3%, and the yield is over 3%. Is the bond market calling Bernanke's bluff?

I have 7 new highs. 2 of the charts look decent so far, FNF is not a breakout but is getting very good volume, TSYS is a breakout but nothing spectacular in the volume dept.

I have one stock on the earnings sheet reporting today, CRK, reporting after market close.

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