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Thursday, July 29, 2010

Thursday Morning Update

Yesterday's nasty little sell off changed virtually nothing. We are basically in the same range as we were yesterday, with the same support and resistance, with a pivot point at 1110 which we are sitting on right now as I write. The market seems to be taking my cue and ignoring the news, as we got another round of bad unemployment numbers this morning, and the market is not paying any attention to it.Leading sectors today are, what a surprise, the ones that got creamed yesterday: XLV. XLF, and XLE, lagging are XLP, XLU, and XLK. The Nasdaq is trailing, the Russell 2000 leading, oil and gold up, and treasury yields are up.

I've got 5 new highs so far, with several breakouts, including ENL, SCMR, CTXS, DRC, and SFLY. We have just an ungodly number of stocks from the watchlists reporting. From last night: AIZ 2.7%, BMR 1.45%, CTXS 15%, ENTR 6.7%, EQR -0,3%, EXR 0.8%, GMCR  9%, KWR 5.9%, LOGM -5%, TIS 2.6%, WLL 5%. From this morning: BLL -0.18%, DIN -6.85%, DPS -3.24%, EMCI  -0.41%, GTIV 1.6%, LZ 3.3%, MAIL 1.8%, NIHD  -2.5%, RGR -9.5%, TNDM -16%, VCI 2.6%, VTR 0.63%.

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