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Tuesday, September 1, 2009

Tuesday Morning Update

I'm still having some internet connection problems, so posts will be bunched together during the morning, and the afternoon updates will probab;y be late again. I narrowed the range on the SPX a bit, with 1016-1017 being the midpoint, and about 1025 being the top, a;though we did hit 1028 this morning. XLF, XLE, and XLB are today's weaklings, with xlu, xlp, and surprisingly, XLY showing some relative strength.The Nasdaq is getting less shellacked on a relative basis, but not the Russell, it's getting hit pretty hard.

I have 48 new highs so far, with only one decent looking breakout, OPK. CMED, one of the earnings list scheduled to report this morning, is down 12%. The other, APSG, is up 2.3%, but I don't think it has actually reported yet.

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