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Wednesday, February 11, 2009

Wednesday Morning Update

Sorry about the late update again today. I haven't had much of a chance to see what's going on, but the market is rebounding after yesterday's drop, not terribly surprising. The shorts are covering in XLF, as it is leading up, almost 4%. Nothing else is over 1%, and as I write two sectors are negative, XLE and XLU. TNX and TYX are still dropping, and as usual, the Russell 2000 is outperforming. Strangely enough, the Nasdaq 100 is underperforming.

I have only 2 new highs so far, SIGA which is following through on yesterday's breakout, and WES, which is now pulling back after a breakout attempt.

I haven't checked in with the earnings sheet yet, I'll post an update as soon as I do.

Bernanke was on Capitol Hill yesterday, giving Ron Paul another chance to school him.

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